25

Sep

-

Dates Pending

23

Oct

2025

MiCA Readiness in Cyprus

FROM

€

130

220

12 Verified CPD Points

12

HOURS

English

Theo Antoniou

description

COURSE DESCRIPTION

This advanced course provides legal professionals, compliance officers, crypto-asset businesses, and regulators with a comprehensive, practice-oriented understanding of the Markets in Crypto Assets Regulation (MiCA) and its enforcement in Cyprus. It addresses MiCA’s legal foundation, the Cypriot implementation by CySEC, practical compliance issues for CASPs, licensing obligations, and real-world case studies, ensuring participants are prepared to engage with MiCA both strategically and operationally.

Cyprus has rapidly positioned itself as a forward-looking jurisdiction in financial services, particularly with the adoption and implementation of the MiCA Regulation through CySEC. Since June 2024, key MiCA provisions began applying across the EU, with Cyprus opting to offer the full transitional period until July 2026. During this period, CySEC is transitioning from an AML-based CASP registration regime to a fully licensed regime under MiCA, which introduces stricter capital, governance, and operational requirements.

This shift has created a legal and operational knowledge gap among firms operating in or entering the crypto-asset space. The information in this course is grounded in the MiCA Regulation (EU 2023/1114), CySEC's policy statements and transitional guidelines, EU-wide enforcement examples, and ongoing guidance from ESMA and EBA. It reflects up-to-date legislative changes, national-level enforcement practices, and practical feedback from stakeholders across the Cypriot legal and crypto markets.

Employers across legal, fintech, and compliance sectors must now ensure their staff understand:

1. How to assess licensing obligations under MiCA

2. How to transition from registration to licensing

3. How to structure compliant CASP applications

4. How to mitigate legal risk related to white papers, investor disclosures, AML/CFT, and governance. Why This Course Matters for Employers

• With MiCA now enforceable across the EU, firms must be fully compliant to operate legally and to obtain an EU-wide passport.

• In Cyprus, CySEC is actively licensing CASPs, issuing guidance, and enforcing compliance—firms face significant legal and reputational risks without training.

• Ensures that legal teams, compliance officers, and crypto startups build compliant structures, anticipate supervisory trends, and avoid penalties.

• Builds national capacity for MiCA-aligned supervision and cross-border business. Β.4

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course content

Dates and times

Course content

Module 1: EU-Level Legal Foundation and Classification of Crypto-Assets

Introduction to the Digital Finance Strategy and regulatory rationale for MiCA
Scope and exclusions: What MiCA regulates vs. MiFID II (tokenised securities), e-money, and NFTs
Classification under MiCA: EMTs, ARTs, and other crypto-assets
Practical implications of asset classification: who needs to comply and how
Transitional timeline and MiCA’s phased implementation (2023–2026)
Workshop: Participants will map out key compliance milestones from 2023 to 2026 and present a strategic transition plan for a hypothetical Cypriot CASP, including preparation steps for licensing and supervision.
Discussion: Evaluate the pros and cons of the transitional period and how Cyprus’s full 18-month grandfathering affects market entry and competition.

Module 2: Cyprus Implementation – CySEC, Legal Mandate, and Licensing Timeline

CySEC as the national competent authority: national law amendments to AML Law
Transition from the pre-MiCA CySEC CASP register to full MiCA authorisation
Domestic penalties for non-compliance: administrative and criminal exposure
Transitional arrangements for Cyprus CASPs and notification deadlines
Overview of the CySEC licensing application process and preliminary submissions
Discussion: Compare the documentation and governance requirements for a typical CASP license application with those required for a CIF under MiFID II. Explore how MiCA's substance and capital requirements challenge startup entrants.

Module 3: CASP Licensing, Requirements, and Supervision under MiCA

CASP service categories and their regulatory implications
Classes of CASP licenses and initial capital requirements (€50k–€150k)
Application structure: governance, EU presence, business plan, policies
CySEC’s supervisory fees, annual reporting, and internal audit expectations.
Internal substance: fit and proper tests, board structure, MLRO, CCO
CySEC’s preliminary application process and assessment timelines
Case Study - Participants will review a redacted preliminary application submitted by a Cypriot crypto startup. In small groups, they will identify strengths and weaknesses in the documentation and propose revisions to ensure the application would meet MiCA’s governance, capital, and internal control expectations.
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Module 4: Enforcement, Market Integrity, and EU Enforcement Trends

Market abuse rules under MiCA: insider dealing, unlawful disclosure, and manipulation
CySEC enforcement priorities and new penalties under the Cyprus AML Law
Case examples - Coinbase and Binance fines in the EU
Transition supervision: CySEC’s demand for proof of compliance by January 2025

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Module 5: Designing an Internal Compliance Programme

Structuring policies on custody, IT security, governance, and conflict of interest
Risk management frameworks for MiCA compliance
Safeguarding client assets and ensuring liquidity of ART/EMT reserves
Outsourcing requirements and continuity planning under MiCA
ESG disclosures, white paper preparation, and investor communications

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Module 6: Case Studies, Cross-Regulatory Issues, and Strategic Planning

Cyprus case studies - MiCA transition by Cypriot CASPs, operational hurdles, and best practices
Intersection with PSD2 (payment services), GDPR, AML, and tax reporting (CARF)
DeFi, NFTs, and borderline use cases under MiCA
Strategic planning for CASPs: licensing choices, product limitations, and compliance roadmap
Case Study - Analyse the business model and service roadmap of a hypothetical CASP seeking to expand from Cyprus to the wider EU. Identify how MiCA licensing choices (e.g., Class 1 vs. Class 3) affect operational strategy and compliance costs.

Q&A - What are the key strategic decisions a CASP must make when structuring their application under MiCA? How should product limitations or regulatory uncertainty be factored into expansion plans?

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COURSE PREVIEW

HAVE A LOOK
INSIDE THE COURSE

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course details

Methodology

Live sessions - online via Zoom

Interactive lecture with PowerPoint presentation

Case study and analysis and group discussion

Practical exercises to apply legal concepts in real-world scenarios

Q&A sessions for in-depth understanding

Funding

This seminar is funded by the HRDA.

Our training center offers special prices for individuals who are not eligible for funding - the discount is provided for in the link below. To pay in instalments please contact us at 24655510

Unemployed participants are eligible for HRDA funding provided they meet certain requirements. For more information, please contact us at 24655510

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Admission Requirements

No previous experience or qualifications are required in order to participate in this course.

Who is this aimed at

This course is aimed at professionals employed in law firms, compliance departments, financial institutions, crypto-asset service providers (CASPs), or regulatory bodies who are involved in legal, regulatory, or supervisory work related to crypto-assets and digital finance.

Indicative job roles or responsibilities include:

Legal advisors or associates working on CASP licensing and regulatory compliance Compliance
Officers responsible for risk management, AML/CFT, and reporting under MiCA, Regulatory staff or consultants supporting clients in CySEC submissions or white paper preparation, Legal executives or professionals involved in drafting internal policies for crypto firms
Risk or governance professionals involved in digital asset business models and strategic compliance planning

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Certificate Awarded

A Training Certificate will be awarded to those participants who will successfully complete the training. The Training Certificate, at the bottom, will state: "The program was approved by the Human Resources Development Authority".The certificate will indicate the total CPD points awarded.

Coming Soon

More details about this course will be uploaded soon.

INSTRUCTOR

MEET YOUR INSTRUCTOR

Theo Antoniou

Theo Antoniou is the founding partner of Spencer West in Cyprus and a solicitor with deep expertise in corporate structuring private wealth financial services regulation investment funds fintech virtual assets and MiCAR compliance.

He advises international clients on the establishment of corporate entities trusts investment vehicles and private wealth structures with a strong focus on cross-border transactions regulatory licensing and tax efficiency.

His work includes advising on the licensing of Electronic Money Institutions Payment Institutions Crypto Asset Service Providers Cyprus Investment Firms and Alternative Investment Funds as well as the legal and regulatory frameworks that apply to each. Theo also supports clients with mergers and acquisitions joint ventures and group reorganisations offering commercially driven advice that balances regulatory compliance with practical outcomes.

He is regularly engaged by high net worth individuals family offices and multinational groups to develop structures that support succession planning investment strategy and risk management. Recognised for his forward-thinking approach Theo has been named among the top 30 advisors in Cyprus by Citywealth and is consistently ranked for his thought leadership in fintech and financial services law.

He is dual qualified in Cyprus and England and Wales having studied law at the University of Essex and completed the Legal Practice Course at the University of Law in London.

Prior to establishing Spencer West Cyprus he worked in leading local firms and served as director of international business development in London gaining broad experience across markets and legal systems. Theo combines legal precision with commercial understanding and is known for his proactive and solution-focused client service.

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COLLABORATORS

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frequently asked
questions

QUESTION 01

Do I need to be registered on the ERMIS Portal?

Yes, if you are registering for a course that is HRDA accredited, all participants (either receiving funding or not) will have to access and register as natural persons on the ERMIS Portal. If you are receiving funding and you are being registered for continuous professional/vocational training by your employer, your employer should also be registered with the ERMIS platform as a legal person. Contact us if you have any difficulty registering as a natural person or a legal person.

QUESTION 02

Will I receive a certificate at the end of the training?

Yes, you will receive a Certificate of Attendance from ELTRC or the relevant awarding body.

QUESTION 03

Do you have terms and conditions for seminar attendance?

Yes. You may find our terms and conditions here.

QUESTION 04

Will I receive the notes for the lesson and have access to recordings?

Yes, you will be given the course materials through an online platform and you will be allowed to download and keep the course materials and specimens for certain courses. Recordings will also be available in the drive for three months.