The Cyprus Securities and Exchange Commission has remindedCrypto-Asset Service Providers operating in Cyprus of the deadline to apply forauthorisation under the Markets in Crypto-Assets Regulation.According to CySEC, the deadline for submitting anapplication under MiCA is 27 February 2026. The regulator referred to itsearlier announcement, which outlined the transitional arrangements for existingproviders.CASPs Must Apply Before February DeadlineCASPs that are currently offering services under thenational framework may continue operating during the transitional period. Thisapplies until their application is approved or rejected or until the end of thetransitional period on 1 July 2026, whichever comes first.CySEC clarified that CASPs which do not submit anapplication by the February 2026 deadline must prepare and submit a wind-downplan. After the end of the transitional period, the provision of crypto-assetservices will no longer be permitted without MiCA authorisation. Any activitybeyond the July deadline is conditional on obtaining the relevant approvalunder the regulation.Cross-Border Crypto Services Require ComplianceThe regulator also recalled the rules on cross-borderactivity. The provision of crypto-asset services to another EU Member State isallowed only where this is permitted under the host country’s nationallegislation. It must also be aligned with the adoption of the grandfatheringregime, in line with guidance issued by the European Securities and MarketsAuthority.CySEC added that CASPs which remain registered in therelevant national register continue to be subject to all existing obligationsarising from national rules, as previously communicated by the authority.CySEC Proposes ESAP Reporting RulesCySEC has launched a consultation on proposed amendments toalign national rules with the EU’s European Single Access Point framework. Under the changes, investment firms, asset managers, and AIFMs thatare part of a financial conglomerate would be required to submit annualinformation on their legal, governance, and organisational structures to CySECfor publication on ESAP. The requirements, effective from January 2030, aim toenhance regulatory transparency and oversight, without introducing any retail-facingobligations.This article was written by Tareq Sikder at www.financemagnates.com.