News

On the 16th of September 2019 there was a meetup organized in the House of Parliament in Cyprus as a preparatory step for a conference that is scheduled for next October. The conference’s subject will revolve around innovations in artificial intelligence and how the updates in the field can be incorporated in our country. The ultimate goal of the conference will be to create a network of cooperation and interaction between the scientific and industrial world and as a result, ...

Crypto’s nature is what sets it attractive in being unregulated and free from legal demands and norms. However, day by day and as crypto dives deeper into the current updates on finance and industry, it is imperative that it complies with reasonable rules and regulations.Although currently there are fragments in regulating crypto, there have been suggestions which encourage a global regulatory framework which should be embraced and welcomed.The International Monetary Fund (IMF), published a document on July 2019 which contained important typology on the ...

CySEC (Cyprus Securities and Exchange Commission) has recently provided guidance to the CIFs (Cyprus Investment Firms), regarding the treatment of additional cash buffer of ICFs in the calculation of the requirements of capital. The guidance consists of the following requirements:According to CySEC’s circular C162, Cyprus Investment Firms must subtract the contribution of ICF which is presented in their records from the Common Equity Tier 1 Capital (Common stock held by a bank or other financial institution). CySEC has recently (March 2019) issued a Directive ...

The ECB issued a new report on the 7th of August, named ″Understanding the crypto-asset phenomenon, its risks and measurement issues″. The report concerns closing data gaps and confronting challenges related to crypto-assets, which continue to pose obstacles for financial institutions and payment services.The report states that “spillover effects may also be transmitted to the real economy ,” which depend on the interaction between the two domains. Therefore, ECB mentions that they should provide a more granular analysis of the new assets class. ...

With Cryptocurrency and the well-known Bitcoin, casinos are a field which could not be unaffected by the trend. Bitcoin casino is an online platform which allows the players to use Bitcoin as a payment method. In other words, it is a Crypto Casino, which follows the digitalization transition of the present time, towards online transactions and Cryptocurrency. Mr.BTC.org dives deep into explaining how Cryptocurrency is nothing but a digital payment network which can be adopted in all aspects of transactions ...

The European Securities and Market Authority (ESMA) reported concerning the licensing of FinTech companies in Europe, based on two surveys which took place in January 2018 and January 2019. The data collected through the surveys concern the licensing administration of FinTech companies in national authorities and their jurisdiction. ESMA supports that there is no need for any alterations in the existing EU regulatory system as such business models can function well in the current framework. However, it strengthens its conclusions ...

An article written by Simon Zenios and Co LLC, which concerns the legal background of Blockchain, has been republished by mrcrypto.cc. The article aims to provide basic information on what Blockchain is, how it operates and become accessible knowledge for everyone who is not an expert on the filed. Also, another one of its aims is to provide input on the legality around Cryptocurrency for anyone who wishes to proceed to such endeavours and be involved in the Crypto world.

Simon Zenios and Co LLC, express a special interest in Blockchain and Cryptocurrency and it is widely known for becoming a leading Corporate Law Firm in Cyprus dealing with such matters. Experience together with dedication, and services provided to more than 200 ICOs, IEOs and STOs and counting, set the firm an important contributor in attempting to make Cyprus a Blockchain oasis.An article published by Simon Zenios and Co LLC, was republished on www.cryptoninjas.net (Cyprus strategy to take the ...

Simon Zenios and Co LLC law firm’s involvement and interest in the updates in the crypto world is motivated by the current digitalization in transactions and investments both in Cyprus and the world.Participating in the Bitcoin Club Cyprus meetup on the 31st of July was a pleasure since our firm has been providing International Corporate Services to IEOs, ICOs and STOs. We take pride in being a leading law firm in Cyprus in Corporate, Legal & Banking services for ...

Simon Zenios & Co LLC had recently been present in a variety of meetings with leading Blockchain Technology Companies in Shanghai, China.Innovative ideas concerning investments abroad, including around the EU, had been discussed. Different perceptions had been combined, which introduced a frequent target: the combination of varied concepts regarding FinTech Companies.The goal is led by FinTech’s recent popularity, both in Cyprus and on an international level.Digital payments and investments are on the rise for the ...