Cyprus Compliance Report

Regulatory Overview

Regulatory Status

Some rules exist but significant gaps; draft legislation or limited guidance

Primary Legislation

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Travel Rule

Not adopted

Tax Reporting

**No Specific Crypto Tax Legislation:** Cyprus currently lacks dedicated tax laws for cryptocurrencies. Existing Income Tax Law, Corporate Tax Law, VAT Law, and Capital Gains Tax Law are applied by analogy.. **"Substance Over Form":** The actual nature of the activity and the intention of the holder (e.g., short-term trading vs. long-term investment) determine the tax treatment.. **Not Legal Tender:** Cryptocurrencies are not recognized as legal tender in Cyprus.. **Not Financial Instruments:** Generally, cryptocurrencies are not classified as financial instruments under Cypriot law, though certain security tokens might be.. **Scope:** Capital Gains Tax in Cyprus *only* applies to gains arising from the disposal of:

Key Facts

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