Is crypto legal in Cyprus?
Yes. Cyprus regulates crypto-asset services instead of banning them, and since 1 July 2026 the only way to offer them is a MiCA authorisation, most often from the Cyprus Securities and Exchange Commission (CySEC).
The EU’s Markets in Crypto-Assets Regulation (MiCA) has applied to crypto-asset service providers since 30 December 2024. CySEC’s press release of 17 October 2024 closed Cyprus’s national register to new applications that day, and from 30 October 2024 it stopped accepting notifications from firms registered by other EEA regulators. Firms already on the register by 30 December 2024 could keep operating until 1 July 2026, or until CySEC granted or refused their MiCA application.
CySEC’s press release of 23 December 2025 set 27 February 2026 as the last day to apply. Firms that did not apply had to submit a wind-down plan, and any activity after 1 July 2026 needs the MiCA authorisation. On 10 July 2026 CySEC repeated that services are permitted only under MiCA and relayed ESMA’s warning that clients of unauthorised firms lose MiCA protections, including protection of client assets.
Cyprus has not yet passed its own MiCA enforcement law. The Cyprus Mail reported that the Markets in Crypto-Assets Bill of 2026 was approved by cabinet on 10 September and submitted to the House of Representatives on 8 October 2026, with penalties of up to EUR 15 million. It still has to pass parliament and may change.
Which crypto exchanges work in Cyprus?
Seven of the exchanges we track serve Cypriot users under a MiCA licence issued in another EU state: OKX, Kraken, Coinbase and Bitstamp are available, and Bybit, Crypto.com and Gate are limited. CySEC has authorised 24 firms itself, and none of them is a platform we track.
ESMA’s interim MiCA register lists 25 firms with Cyprus as home state; one, Stratos Europe (Tradu), ended on 24 April 2026. The first CySEC authorisation was eToro (Europe) Ltd on 16 January 2025. The list also includes Trading 212 Markets, Revolut Digital Assets (Europe), XTB and Capital Vault (capital.com), all brokers or fintechs rather than exchanges we track.
The tracked platforms reach Cyprus by passport from Malta, Ireland, Luxembourg or Austria. OKX and Crypto.com are licensed by Malta’s regulator, Gate by the same authority, Kraken by the Central Bank of Ireland, Coinbase and Bitstamp by Luxembourg’s CSSF, and Bybit by Austria’s FMA.
Four of them also run a firm licensed by CySEC, but as an investment firm under MiFID, not as a crypto-asset service provider. Kraken’s Payward Europe Digital Solutions (CY) holds licence 342/17 and Coinbase’s Coinbase Financial Services Europe holds 374/19. Crypto.com’s Foris Capital CY (344/17) came with its MiFID licence purchase of 21 May 2025, and Gate’s Gate Securities (Cyprus) (395/20) is listed on its group licence page. We read the first two on CySEC’s own register; the other two rest on the companies’ pages.
Best crypto platforms for Cypriot residents
By our access score, Kraken (9 out of 10) is the most open exchange for Cypriot users, ahead of Coinbase (8.5) and Bitstamp (8). Kalshi and Polymarket tie at 8 among prediction markets, and so do all six DeFi platforms we track.
The score rates how fully a Cypriot resident can use each platform, not its fees or safety. It is computed from our data and moves when a row changes: access status (4 points), the share of the platform’s products open here (3), the licences we hold on file for Cyprus (2) and a geo-access test from Cyprus (1). Platforms that refuse Cypriot users are not scored. The full method is on our methodology page.
Exchanges
Kraken
Best for A Cypriot-licensed firm and an EU crypto licence
9.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 1/2
- Our test
- 1/1
Read our Kraken reportPros
- Payward Europe Digital Solutions (CY) has held CySEC licence 342/17 since November 2017
- Payward Europe Solutions holds an Irish MiCA licence, passported to Cyprus
Cons
- The Cypriot firm is an investment firm, not a crypto-asset licence
Coinbase
Best for Spot from Luxembourg, derivatives from Cyprus
8.5/10- Access
- 4/4
- Products
- 3/3
- Licences
- 1/2
- Our test
- 0.5/1
Read our Coinbase reportPros
- Coinbase Luxembourg S.A. holds a CSSF MiCA licence passported to all 30 EEA states
- Coinbase Financial Services Europe holds CySEC licence 374/19
Cons
- Spot is served from Luxembourg, not Cyprus
Bitstamp
Best for Spot trading from a long-running EU licence
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Bitstamp reportPros
- Bitstamp Europe S.A. holds a CSSF MiCA licence from 15 May 2025
Cons
- Served from Luxembourg, with no Cypriot firm
OKX
Best for An exchange licensed in Malta
7.5/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 0.5/1
Read our OKX reportPros
- OKX Europe Limited holds an MFSA MiCA licence from 27 January 2025, passported to Cyprus
- Derivatives run through a separate MiFID firm
Cons
- No firm licensed in Cyprus
Crypto.com
Best for An app from a group with a Cypriot firm
7.3/10- Access
- 3.5/4
- Products
- 1.8/3
- Licences
- 1/2
- Our test
- 1/1
Read our Crypto.com reportPros
- Foris DAX MT Limited holds an MFSA MiCA licence from 27 January 2025
- Foris Capital CY (CySEC 344/17) issues Tokenized Stocks to EEA users
Cons
- Cyprus is on the derivatives geo-restrictions list
Bybit
Best for Spot trading under an Austrian MiCA licence
6.9/10- Access
- 3.5/4
- Products
- 2.4/3
- Licences
- 0/2
- Our test
- 1/1
Read our Bybit reportPros
- Bybit EU GmbH holds an FMA MiCA licence from 28 May 2025, passported to Cyprus
Cons
- Bybit EU offers no derivatives
- Global Bybit is being wound down for EEA users
Gate
Best for Spot on Gate EU, with a Cypriot group firm
6.5/10- Access
- 3.5/4
- Products
- 1.5/3
- Licences
- 1/2
- Our test
- 0.5/1
Read our Gate reportPros
- Gate Technology Ltd holds an MFSA MiCA licence from 29 September 2025
- Gate Securities (Cyprus) Ltd is listed under CySEC licence 395/20
Cons
- Gate EU offers no derivatives
Prediction markets
Kalshi
Best for A regulated US exchange that does not exclude Cyprus
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Kalshi reportPros
- Cyprus is not on Kalshi's restricted-jurisdictions list
Cons
- No Cypriot authorisation on file
- Cyprus has no prediction-market law
Polymarket
Best for Event markets across many topics
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Polymarket reportPros
- Cyprus is not on Polymarket's geographic restrictions page
Cons
- No Cypriot authorisation on file
- Cyprus has no prediction-market law
DeFi
Aster
Best for Perpetual futures on several chains
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Aster reportPros
- Cyprus is not on its prohibited-jurisdictions list
Cons
- No licence on file for Cyprus
Hyperliquid
Best for Perpetual futures from your own wallet
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Hyperliquid reportPros
- Excludes only the US, Ontario and broadly sanctioned places
Cons
- No licence on file for Cyprus
Jupiter
Best for Solana swaps
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Jupiter reportPros
- Cyprus is not in its terms
Cons
- No licence on file for Cyprus
Lighter
Best for Perpetual futures on an order-book DEX
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Lighter reportPros
- Cyprus is not named in its terms
Cons
- No licence on file for Cyprus
PancakeSwap
Best for BNB Chain swaps and pools
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our PancakeSwap reportPros
- Its terms bar only persons and places under US sanctions
Cons
- No licence on file for Cyprus
Uniswap
Best for Swapping tokens from your own wallet
8.0/10- Access
- 4/4
- Products
- 3/3
- Licences
- 0/2
- Our test
- 1/1
Read our Uniswap reportPros
- Its terms bar only places under comprehensive US sanctions
Cons
- No licence on file for Cyprus
Which platforms block Cypriot users?
Four of the 22 platforms we track refuse Cypriot users: Gemini, Bitget, MEXC and HTX. Six more are limited, because they have no working MiCA licence here or serve only part of their product: Binance, Bybit, Crypto.com, Gate, KuCoin and Bitfinex.
Most limits trace to MiCA. Gemini closed every account in the UK, the EEA and Australia on 6 April 2026. Binance has had no MiCA authorisation since 1 July 2026, closing sign-ups, deposits and trading while existing users can withdraw. KuCoin EU has had trading and deposits suspended since 4 February 2026. HTX’s user agreement bars every EU state, and since 23 August 2026 EU sanctions on Russia-linked providers ban dealings with it, under Regulation (EU) 2026/1848.
Bitget and MEXC have no MiCA licence. Bitget EU applied to Austria’s FMA on 2 July 2026, and ESMA’s non-compliant list names MEXC Global. Both refused Cyprus in our geo-access test, which is why they are restricted and not limited; the Bitget row rests on that test and is medium confidence, since Cyprus is on none of Bitget’s lists.
What our geo-access test saw from Cyprus
Of the 22 platforms we tested through a Cypriot exit between 14 and 16 October 2026, 14 loaded with no barrier, 5 showed a notice or redirect, and 3 refused: Bitget, Gemini and MEXC.
The notices were Binance’s European regulatory page, Coinbase’s note that stocks and prediction markets are unavailable in the jurisdiction, Gate’s EU-region prompt, KuCoin’s suggestion to switch to KuCoin EU, and OKX’s redirect to its European site. HTX loaded without a barrier even though its terms bar the EU, so our statuses follow the documents first and the test second. The test uses VPN exits and cannot see a block applied by a Cypriot internet provider.
Blocked
Bitget · Home page
Cyprus: flagged by the check, yet Cyprus is on none of Bitget's lists
“Please note that we are unable to provide services in Prohibited Countries.”
CRYPTORESTRICTIONSWho regulates crypto in Cyprus?
CySEC authorises crypto firms under MiCA and licenses the investment firms of several platforms we track, the Central Bank of Cyprus covers certain stablecoin tokens, the National Betting Authority polices gambling, and the Tax Department collects the new 8% tax and receives the EU’s DAC8 reports.
- CySEC. The competent authority for crypto-asset service providers and the home regulator of the 24 firms above. Its announcements of 17 October 2024, 23 December 2025 and 10 July 2026 set the transition.
- Central Bank of Cyprus. Designated alongside CySEC, according to the Cyprus Mail, and responsible for certain asset-referenced and e-money tokens.
- National Betting Authority. Licenses online betting under Betting Law 37(I)/2019. Its role in prediction markets is covered below.
- Tax Department. Collects the Article 20E tax and is the recipient of DAC8 reports. Its own pages refused our automated reads, so the tax facts below come from advisers.
Which crypto products are limited in Cyprus?
Spot trading is the open product. Derivatives are the narrowest, because the exchanges licensed for Cypriot users either offer none or carve Cyprus out, and Bybit’s global platform is being closed to EEA users.
- Derivatives. Gate EU offers none, Bybit EU offers none, and Cyprus is on Crypto.com’s derivatives geo-restrictions list. Coinbase’s European futures launched on 9 March 2026, and its derivatives firm is the Cypriot Coinbase Financial Services Europe.
- Tokenized stocks. Crypto.com’s Foris Capital CY issues Tokenized Stocks to eligible users across the EEA, a product that sits under its CySEC investment-firm licence, not MiCA.
- Bybit. Bybit EU is the only licensed arm, and it serves spot. Cypriot users of the global platform face a wind-down under its notice of 29 June 2026.
Are prediction markets legal in Cyprus?
Cyprus has no prediction-market law, and we found no statement from the National Betting Authority or CySEC about them. Kalshi and Polymarket are available in our data, but the gambling rules are strict and untested against these products.
The National Betting Authority said on 8 August 2025 that operating online casinos is strictly prohibited under Cypriot law. Under Article 79 of Betting Law 37(I)/2019 it cites penalties of up to one year in prison and a fine of up to EUR 50,000 for players in illegal gambling, and up to five years and EUR 300,000 for providers. The authority also publishes a list of licensed betting providers and a blocking list of unlicensed sites. That page does not mention crypto or prediction markets, so whether these rules reach them is unsettled.
Neither Kalshi nor Polymarket lists Cyprus among its excluded places, and both loaded in our test. Our test cannot see a national block, and we have not checked either platform against the authority’s blocking list.
How is crypto taxed in Cyprus?
Since 1 January 2026 gains from disposing of crypto-assets are taxed at a flat 8%, for individuals and companies, under Article 20E of the Income Tax Law. Losses offset only same-year crypto gains, and mining rewards sit outside the rate. We could read this only through advisers’ summaries.
Chambers & Co reports that the rate comes from the Income Tax (Amending) (No. 4) Law of 2025, published in the Official Gazette on 31 December 2025 and applying to profits in tax years beginning on or after 1 January 2026. Profit is the proceeds minus the acquisition cost and directly related costs such as fees, and it is not added to other income. Nikita & Partners lists the taxable disposals: a sale for euros, an exchange for another crypto-asset, use as payment, and a donation, with no grandfathering or transitional relief.
Mining is excluded from the 8% rate and stays under the ordinary income and trading rules. Chambers & Co adds that staking and DeFi yield generally fall under ordinary income rules unless structured as disposals. Both firms wrote in early January 2026 that Tax Department guidance on valuation, record-keeping and cost-basis methods was still expected, and we found no later guidance because the Ministry of Finance site blocked our automated reads on 19 October 2026.
Reporting is arriving too. EY Cyprus says Law 38(I)/2026 transposes the EU’s DAC8 rules, entered into force on 27 March 2026 with effect from 1 January 2026, and requires crypto-asset service providers to report to the Tax Department by 30 June each year. The first report, on 2026 activity, is due by 30 June 2027, and the first exchange between tax authorities by 30 September 2027.
Serbia
Turkey
Switzerland
Iceland
Liechtenstein
Norway
Croatia
Estonia
Finland
Greece
Latvia