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In 2022, the Cyprus Securities and Exchange Commission (“CySEC”) has taken further steps to regulate crypto assets activities in Cyprus. The new 5th Anti – Money Laundering Directive, also known as the ‘AML Directive’ (188(I)/2007) has been introduced into the Cypriot national legislation. In essence, CySEC now requires Crypto-Assets Service Providers, also known as CASPs, to register and comply with rules and regulations for money service businesses such as liquidity risk management, compliance, place sound risk management mechanisms, governance procedures and compliance.