{"id":50323,"date":"2023-06-26T10:54:01","date_gmt":"2023-06-26T10:54:01","guid":{"rendered":"https:\/\/lydian.io\/?p=50323"},"modified":"2023-06-26T10:54:05","modified_gmt":"2023-06-26T10:54:05","slug":"crypto-adoption-in-cyprus-has-been-boosted-with-the-approval-of-the-bybit-license","status":"publish","type":"post","link":"https:\/\/lydian.io\/crypto-adoption-in-cyprus-has-been-boosted-with-the-approval-of-the-bybit-license\/","title":{"rendered":"Crypto adoption in Cyprus has been boosted with the approval of the ByBit license","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"<div class='booster-block booster-read-block'>\n                <div class=\"twp-read-time\">\n                \t<i class=\"booster-icon twp-clock\"><\/i> <span>Read Time:<\/span>1 Minute, 48 Second                <\/div>\n\n            <\/div><p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=840\/https:\/\/s3.cointelegraph.com\/uploads\/2023-06\/36fbbc33-78ab-4929-96ea-8862574dc970.jpg\" \/><\/p>\n<p>Crypto trade Bybit has introduced licensing approval to function as an trade and custody service in Cyprus.  The third most visited crypto trade on this planet will now provide buying and selling between crypto and fiat forex pairs in addition to crypto-related monetary providers.<\/p>\n<p>With 1.2 million inhabitants, Cyprus is the third largest island within the Mediterranean Sea.  In a press launch, Ben Zhou, Bybit's co-founder and CEO, defined the significance of increasing the group's world footprint and emphasised the function of cryptocurrencies as a technique to exit the legacy monetary system: <\/p>\n<p>\"We're excited to launch the crypto ark in Cyprus.\"<\/p>\n<p>Cyprus is more and more turning into a crypto hotspot within the Mediterranean, owing in some elements to public sector actions.  In 2022, Kyriacos Kokkinos, Republic, then Deputy Analysis Minister to the President of Cyprus, <a rel=\"nofollow noopener\" href=\"https:\/\/www.youtube.com\/watch?v=gKVG104SaWg\" target=\"_blank\">explained<\/a> that the nation would turn into a hub for brand spanking new disruptive applied sciences, together with blockchain. <\/p>\n<p>Traditionally, the Central Financial institution of Cyprus <a rel=\"nofollow noopener\" href=\"https:\/\/seekingalpha.com\/article\/4585967-bitcoin-10-years-since-cyprus\" target=\"_blank\">warned<\/a> in opposition to crypto;  Whereas a decade has handed since a run on Cypriot banks led to a 600% value surge in Bitcoin (BTC).  In 2023, Cyprus introduced its intention to undertake blockchain applied sciences and printed the Distributed Ledger Expertise Invoice in 2021.<\/p>\n<p>Nonetheless, adoption charges are low in comparison with these on the island of Malta, which can be within the Mediterranean Sea.  Malta <a rel=\"nofollow noopener\" href=\"https:\/\/media.licdn.com\/dms\/document\/media\/D4D1FAQGwOuNccHI-hQ\/feedshare-document-pdf-analyzed\/0\/1687645783222?e=1688601600&v=beta&t=YSEcqbwi-6FIcSCiY-18LQbQdJPvdb0kAjFeN1Wr9KY\" target=\"_blank\">offers<\/a> 3 times as many blockchain-related jobs per capita and is often dubbed \u201cBlockchain Island\u201d whereas bitcoin OGs together with Adam Again do the speaking <a rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/adam3us\/status\/1440990446226968584?s=20\" target=\"_blank\">maximum<\/a> of the crypto setting in Malta. <\/p>\n<p><strong>Associated: <\/strong><strong>Bitcoin adoption in Mexico is fueled by Lightning partnership with the retail big<\/strong><\/p>\n<p>Moreover, crypto business big Binance not too long ago introduced that it could delist in Cyprus.  Initially headquartered in China, Binance now has places of work all over the world and in crypto-friendly hotspots like Dubai and Bahrain.  Additionally, Binance has persuaded Cyprus to give attention to bigger markets globally. <\/p>\n<p>ByBit acknowledges the \u201cgreat potential of the Cyprus market\u201d whereas the newly authorized license will contribute to the native cryptocurrency ecosystem.<\/p>\n<p><strong>Journal: Peter McCormack's Actual Bedford Soccer Membership popularizes Bitcoin<\/strong><\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bybit-gains-crypto-license-approval-in-cyprus\" rel=\u201dnofollow\u201d >Source link <\/a><\/p>\n        <div class=\"booster-block booster-reactions-block\">\n            <div class=\"twp-reactions-icons\">\n                \n                <div class=\"twp-reacts-wrap\">\n                    <a react-data=\"be-react-1\" post-id=\"50323\" class=\"be-face-icons un-reacted\" href=\"javascript:void(0)\">\n                        <img decoding=\"async\" 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The third most [&hellip;]<\/p>\n","protected":false,"gt_translate_keys":[{"key":"rendered","format":"html"}]},"author":5,"featured_media":50324,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":"","_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[7],"tags":[519,641,4421,436,94,4324,136],"acf":[],"gt_translate_keys":[{"key":"link","format":"url"}],"_links":{"self":[{"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/posts\/50323"}],"collection":[{"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/comments?post=50323"}],"version-history":[{"count":1,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/posts\/50323\/revisions"}],"predecessor-version":[{"id":50325,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/posts\/50323\/revisions\/50325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/media\/50324"}],"wp:attachment":[{"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/media?parent=50323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/categories?post=50323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lydian.io\/wp-json\/wp\/v2\/tags?post=50323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}