Cyprus aims to be among the first to regulate blockchain technology
Cyprus aims to be among the first countries to regulate aspects of Distributed Ledger Technology (DLT), Finance Minister Harris Georgiades said on Wednesday, addressing the Cyprus Blockchain Summit in Nicosia.
Georgiades said that "our aim is to be among the first countries to regulate aspects of Decentralized Ledger Technologies in order to create a truly attractive environment, in parallel with all the other factors that make Cyprus an attractive destination for investment and business."
He also assured those present that the government will continue doing whatever is necessary to create an environment that favors and facilitates the development and implementation of new technologies.
"All our efforts aim at establishing a favourable economic environment, offering stability, certainty and opportunities and in this way supporting business and investment activity...