The Cyprus Securities and Exchange Commission has reminded Crypto-Asset Service Providers operating in Cyprus of the deadline to apply for authorisation under the Markets in Crypto-Assets Regulation.
According to CySEC, the deadline for submitting an application under MiCA is 27 February 2026. The regulator referred to its earlier announcement, which outlined the transitional arrangements for existing providers.
CASPs that are currently offering services under the national framework may continue operating during the transitional period. This applies until their application is approved or rejected or until the end of the transitional period on 1 July 2026, whichever comes first.
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CySEC clarified that CASPs which do not submit an application by the February 2026 deadline must prepare and submit a wind-down plan. After the end of the transitional period, the provision of crypto-asset services will no longer be permitted without MiCA authorisation. Any activity beyond the July deadline is conditional on obtaining the relevant approval under the regulation.
Cross-Border Crypto Services Require Compliance
The regulator also recalled the rules on cross-border activity. The provision of crypto-asset services to another EU Member State is allowed only where this is permitted under the host country’s national legislation. It must also be aligned with the adoption of the grandfathering regime, in line with guidance issued by the European Securities and Markets Authority.
CySEC added that CASPs which remain registered in the relevant national register continue to be subject to all existing obligations arising from national rules, as previously communicated by the authority.
CySEC Proposes ESAP Reporting Rules
CySEC has launched a consultation on proposed amendments to align national rules with the EU’s European Single Access Point framework. Under the changes, investment firms, asset managers, and AIFMs that are part of a financial conglomerate would be required to submit annual information on their legal, governance, and organisational structures to CySEC for publication on ESAP.
The requirements, effective from January 2030, aim to enhance regulatory transparency and oversight, without introducing any retail-facing obligations.
