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CySEC is currently supervising 825 entities, with 70 applications pending review, highlighting the regulatory landscape's complexity. The chairman, George Theocharides, emphasized that the digital transition and artificial intelligence will significantly shape capital markets in Cyprus and Europe by 2025. He also noted that international economic conditions and geopolitical risks will pose challenges to market stability.
The implementation of the Markets in Crypto-Assets Regulation (MiCA) and the Digital Operational Resilience Act (DORA) will enhance the regulatory framework for financial entities. Theocharides pointed out that the digital transformation, driven by AI, offers opportunities for innovation, positioning Cyprus as a potential fintech hub. Sustainable investments are also on the rise, with a focus on transparency and avoiding greenwashing.
• AI will significantly influence capital markets and investment strategies by 2025.
• Digital transformation and fintech growth are key focuses for Cyprus's economic future.
Digital transformation refers to the integration of digital technology into all areas of business, fundamentally changing how organizations operate and deliver value to customers.
Artificial intelligence involves the simulation of human intelligence processes by machines, particularly computer systems, and is expected to drive innovation in financial services.
Fintech refers to technology-driven innovations in financial services, which are anticipated to grow in Cyprus, attracting specialized talent.
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