Central Bank of Cyprus Tightens Licensing Rules for Financial Firms

CBC tightens licensing rules for payment and money firms

The Central Bank of Cyprus (CBC) will overhaul the licensing process for electronic money institutions and payment institutions from August 3, 2026, introducing a new pre-application stage, higher fees and tougher scrutiny for applicants. The changes form part of a wider licensing and supervisory strategy for the sector, first announced on December 20, 2024, the […]