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Revolut will create a cryptocurrency hub in Cyprus

Fintech company Revolut has started building a new cryptocurrency hub in Cyprus to comply with local regulator’s rules. CySEC. This is reported by local media.

The center will allow the payment system to transact with cryptocurrency in the EU.

Revolut representatives said they support the strict customer protection measures proposed by CySEC to prevent any kind of abuse in the crypto market.

These rules are included in the draft. MicaIt was adopted by the European Parliament on 30 June.

Among other things, MiCA proposes to bring crypto assets, issuers and service providers into a single regulatory framework.

As a reminder, last week Revolut received CySEC clearance to provide cryptocurrency services to 17 million customers in the European Economic Area.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

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