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Воскресенье 28 апреля 2024

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Blockchain and cryptocurrencies

Blockchains such as Bitcoin and Ethereum are constantly and continually growing as blocks are being added to the chain, which significantly adds to the security of the ledger. There have been many attempts to create digital money in the past, but they have always failed. The prevailing issue is trust. If someone creates a new currency called the X dollar, how can we trust that they won't give themselves a million X dollars, or steal your X dollars for themselves?…

Market outlook by Leon MFO Investments Ltd

Left to right: Demetris Nicolaou, Andrey Narutskiy, Mikhail Borisov

In 2021, we witnessed the post-pandemic recovery for some economies, especially the U.S. economy. In 2022, this recovery is expected to continue and become more global as Europe and other major economies are forecasting higher GDP growth rates. Global trade resumed in 2021 and is expected to remain strong this year. Bond and credit markets typically reflect macroeconomic conditions. With improving consumer confidence and healthy corporate performance, credit investors will have a wider range of opportunities going forward. In addition,…

Deloitte’s 2021 Global Blockchain Survey results

Today digital assets are affecting the entire financial market. Will they create opportunities for economic growth? How will financial services industry models change? Is the regulatory structure over financial services prepared for this change? Deloitte’s 2021 Global Blockchain Survey provides a clearer view at current and future expectations for the global financial services industry (FSI). The survey focuses on respondents from the FSI and FSI Pioneers – respondents, whose organisations have already applied blockchain solutions and/or integrated digital assets into…

Cyprus: perfect base for digital nomads

Living a nomadic lifestyle became a trend in recent years. Paradoxically, the global pandemic helped promote the concept. Last two years proved that many of us could perform our job remotely with the help of technology. More and more people want to be location independent – either while working remotely for an employer or by setting up their own business activity. However, the nomadic lifestyle can bring up issues with a residency status, specifically with tax residency. Many travellers do…

How blockchain technology works

The advancements of blockchain are still young and have the potential to be revolutionary in the future. In few words, blockchain is a combination of three leading technologies: 1. Cryptographic keys 2. A peer-to-peer network containing a shared ledger 3. A means of computing, to store the transactions and records of the network. Cryptography keys consist of two keys – Private key and Public key. These keys help in performing successful transactions between two parties. Each individual has these two…

New regulatory framework for crypto asset services providers

The Cyprus Securities and Exchange Commission (CySEC) has published a clarification on the anti-money laundering and counter-terrorist financing (AML/CFT) supervision for cryptoasset operations undertaken in or from Cyprus. The Successful Business Magazine presents the summary of this publication. REGISTER OR SUBMIT NOTIFICATION? If you are a Crypto Asset Services Provider (CASP), within the meaning of the Prevention and Suppression of Money Laundering and Terrorist Financing Law (AML/CFT Law), that provides services in or from Cyprus, you must formally register with…

Dr George Theocharides: as regulators, we need to be proactive

The emerging crypto industry is still unchartered waters in many regards. But the Cyprus Securities and Exchange Commission is working towards eliminating the regulatory gaps and ensure the highest level of investor protection. The Successful Business Magazine asks the Commission head, Dr George Theocharides, about the current crypto landscape in the EU and in Cyprus and the recent and forthcoming regulatory developments. In your opinion, what are the greatest regulatory risks that Cyprus faces today? The trends that we have…