CYPRUS CONTENTS
6.7 Rules of Payment for Order Flow p.179 6.8 Market Integrity Principles p.180 7. High-Frequency and Algorithmic Trading p.180 7.1 Creation and Usage Regulations p.180 7.2 Requirement To Be Licensed or Registered as a Market Maker When Functioning in a Principal Capacity p.180
7.3 Regulatory Distinction Between Funds and Dealers p.180 7.4 Regulation of Programmers and Programming p.181 8. Insurtech p.181 8.1 Underwriting Processes p.181 8.2 Treatment of Different Types of Insurance p.181 9. Regtech p.182 9.1 Regulation of Regtech Providers p.182 9.2 Contractual Terms to Ensure Performance and Accuracy p.182 10. Blockchain p.182 10.1 Use of Blockchain in the Financial Services Industry p.182 10.2 Local Regulators’ Approach to Blockchain p.183 10.3 Classification of Blockchain Assets p.183 10.4 Regulation of “Issuers” of Blockchain Assets p.183 10.5 Regulation of Blockchain Asset Trading Platforms p.184 10.6 Staking p.184
10.7 Crypto-Related Lending p.185 10.8 Cryptocurrency Derivatives p.185 10.9 Decentralised Finance (DeFi) p.185 10.10 Regulation of Funds p.186 10.11 Virtual Currencies p.186 10.12 NFTs p.186 10.13 Stablecoins p.187 11. Open Banking p.187 11.1 Regulation of Open Banking p.187 11.2 Concerns Raised by Open Banking p.188 12. Fraud p.188 12.1 Elements of Fraud p.188
12.2 Areas of Regulatory Focus p.188 12.3 Responsibility for Losses p.189
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