CySEC has change of heart: revises stance on CIF licenses withdrawn

Maria Nikolova

The Cypriot financial regulator has demonstrated some startling swiftness in revising its stance on CIF licenses withdrawn – it took CySEC a weekend to decide to give back authorisations suspended on Friday.

cyprus

Sometimes the ways a regulator operates and makes its authoritative calls are mysterious… The Cyprus Securities and Exchange Commission (CySEC) has suffered a change of heart over the last weekend, which by chance included the Fools Day. It is not yet clear whether the Cypriot regulator decided to play a prank to the public or not but it has just published announcements saying it is withdrawing the suspension on a couple of licenses suspended last Friday.

It took CySEC a weekend to realize that at least two of the companies affected by the Cyprus Investment Firms (CIFs) licenses withdrawal – TTCM Traders Trust Capital Markets Ltd and Leadtrade, are now compliant with legal requirements. On Friday, the regulator claimed that four companies – the two just mentioned, as well as Dragon Options and Gametech, are suspected of breaching legal provisions concerning own funds and capital adequacy ratio. Today, CySEC says TTCM Traders Trust Capital and Leadtrade have rectified the problems.

The designation “suspended” next to Dragon Options has also disappeared. The designation remains in place against the name of Gametech at the moment of publication of this article. For how long? Only CySEC knows.

The latest swift revision of CySEC’s mind on law violations by several companies raises questions on whether the regulatory proposals regarding binary options will indeed be implemented. Maybe they will be changed over the next weekend?

Read this next

blockdag

BlockDAG’s Impressive 30,000x ROI Potential and Moon-Based Keynote Captivate Solana And Bitcoin Cash Crypto Investors

Discover BlockDAG’s impressive moon keynote launch and its promise of a 30,000x ROI that is drawing investors from Solana and Bitcoin Cash.

Market News

This is it, the USD Strength has Come to an End

In the aftermath of Israel’s retaliatory strikes in Iran, the currency markets have entered a phase of heightened volatility, reflecting the intricate interplay between geopolitical tensions and economic fundamentals.

blockdag

BlockDAG Leads DeFi Innovation with $19M Presale, Overshadowing Cardano and Binance Coin With 30,000x ROI and DAG Structure

Learn about BlockDAG’s growth in its presale, surpassing $19M, and its impact on the DeFi landscape, overshadowing movements in Cardano and Binance Coin (BNB).

blockdag

BlockDAG Offering a Fresh Take on Meme Coin Development Amid Solana’s Challenges and Floki Inu’s Price Fluctuations With 30,000x ROI

Dive into how BlockDAG’s innovative presale, low-code platforms, and potential 30,000x ROI, outperform Solana’s technical hurdles and Floki Inu’s market predictions.

blockdag

BlockDAG Excels With $2.2M In Miner Sales And Moonshot Teaser, Overshadowing Litecoin’s Rally And Dogwifhat’s Market Highs

Explore how BlockDAG’s $2 million Miner Sales & Moonshot Teaser eclipse the Litecoin price recovery and the Dogwifhat all-time high.

blockdag

BlockDAG Leads Top 6 Cryptocurrencies to Buy in 2024 with a Potential Price Surge to $10 Leaving Cosmos, BNB, and Ethereum Behind

Discover the top six cryptocurrencies in 2024, including BDAG’s remarkable growth potential, BNB’s durability, Cosmos’ connectivity, and ETH’s eco-friendly advances.

Retail FX

Weekly Roundup: Prop firm arbitrarily accounts, Interactive Brokers’ CFDs in Japan

FX, Fintech and cryptocurrency markets have been bustling with activity over the past week, as is often the case. Keep yourself informed and ahead of the curve with a curated selection of crucial stories and developments that are most relevant to those engaged in the markets.

blockdag

BlockDAG Redefines Crypto Mining as Presale Tops $18.5M, Outshining Ethereum ETF & Dogecoin Dynamics

The recent approval of the first Ethereum ETF in Hong Kong underscores a significant advancement in the cryptocurrency’s mainstream acceptance. While Ethereum continues to attract institutional attention, the Dogecoin price prediction suggests a possible resurgence, despite its current undervaluation from past highs.

Digital Assets

Bitcoin halving is done: ViaBTC mines historic block 840K

The Bitcoin network has confirmed its fourth-ever halving block, mined by the cryptocurrency pool ViaBTC, according to data from Blockchain.com. This significant event in the Bitcoin ecosystem reduced the mining reward by half, a deflationary measure occurring approximately every four years to control the issuance of new bitcoins and curb inflation.

<