The fintech company Revolut has begun creating a new cryptocurrency hub in Cyprus to comply with the rules of the local regulator CySEC. report local media.
The hub will enable the payments system to carry out cryptocurrency transactions across the EU.
Representatives of Revolut said they support the stringent customer-protection measures proposed by CySEC to prevent any abuses in the crypto market.
These rules are enshrined in the MiCA regulation, as agreed by the European Parliament on June 30.
Among other things, MiCA proposes to place crypto assets, their issuers and service providers under a single regulatory framework.
Last week, Revolut received CySEC permission to provide cryptocurrency services in the European Economic Area for 17 million clients.
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