Cyprus forex market and regulation discussed at Cy Economy Forex Conference 2026

On Wednesday, officials gathered in Nicosia for the CY Economy Forex Conference ’26 to discuss the role of the foreign exchange sector in the national economy. Minister of Finance Makis Keravnos, in a speech read by Avgi Chrysostomou Lapathioti, emphasized that the government prioritizes investor protection, transparency, and financial literacy. Cyprus Securities and Exchange Commission (CySEC) Chairman Georgios Theocharides reported that approximately 600 inspections of Cyprus Investment Firms were conducted in 2025, resulting in €2.3 million in administrative penalties. Representatives from the Cyprus Chamber of Commerce and Industry (KEVE) and the Employers & Industrialists Federation (OEB) highlighted the sector's contribution to employment and the country's status as a regional financial hub. Philokypros Roussounides of KEVE noted that a clear regulatory framework and a competitive tax regime are key factors for the industry's growth in Cyprus. The Finance Minister also outlined plans to address funding gaps for small businesses through modern financing tools like an Equity Fund and FinTech initiatives. Participants stressed that while the forex market is high-risk, a strong regulatory framework is essential for maintaining market reliability and investor trust.