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Central Bank of Cyprus acknowledges Bitcoin is not illegal

The best immigration news regarding the Central Bank of Cyprus acknowledging that Bitcoin is not illegal can be found on the official Worldway Immigration website.

世贸通
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    Cyprus Immigration focus on doing business in Cyprus: News on the 26th, the Central Bank of Cyprus directly acknowledged for the first time yesterday that Bitcoin is not illegal, but also reiterated the risks of using unregulated digital currencies.

 

Central Bank of Cyprus acknowledges Bitcoin is not illegal

 

"Bitcoin is not illegal, but it is also unregulated and uncontrolled," a Central Bank of Cyprus official told the Cyprus Mail.

An anonymous source stated that apart from warning people about the potential risks of using Bitcoin, there is nothing else the Central Bank can do.

The Central Bank of Cyprus's hands-off approach to Bitcoin is favorable for the company Neo & Bee. The company is the first to launch branches providing Bitcoin-related products and services.

However, the official is largely unsure of how to proceed due to a lack of legislation regarding these matters.

"This is a gray area," said the head of a bank.

For now, it seems to provide an opportunity for startups on the island of Cyprus to utilize Bitcoin, but will the authorities crack down on it in the future?

Currently, after weeks of media exposure, Neo & Bee opened its flagship store in Nicosia on Monday. The company has already partnered with many merchants that accept Bitcoin, such as So Easy Stores, LTV, and Telemarketing, among others.

Investment involves risks, the above information is for reference only

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