The number of entities supervised by the Cyprus Securities and Exchange Commission (CySEC) recorded an increase of 2.53% over the past five years (2020–2025), indicating that Cyprus continues to maintain substantive advantages as an investment destination, CySEC Chairman George Theocharides said before the House Finance Committee, which examined the Commission’s budget for 2026.

Mr Theocharides stated that by the end of 2025, the number of entities supervised by CySEC reached 808, while 61 new applications of various types are currently under review for licensing.

At the same time, the CySEC Chairman said that eight companies have already been licensed to provide crypto-asset services, adding that there are 21 additional applications from companies seeking to obtain the relevant licence.

“Some of the companies that have already been licensed are very large firms with millions of clients across Europe,” he stressed.

According to Mr Theocharides, CySEC’s 2026 budget is balanced, with both revenues and expenditures amounting to €19.25 million.

He noted that total revenues have increased by 24.04%, or €3.73 million, including the state grant.

He further explained that from this year onwards, and in the coming years, CySEC expects increased revenues due to the implementation of new directives as well as its revised pricing policy, aimed at reducing reliance on state funding.

In statements following the session, the CySEC Chairman said the Commission remains focused on ensuring investor protection, adding that “the supervised entities under the Commission operate in a way that ensures investors are always protected, while at the same time promoting healthy market growth.”

He also noted that interest from companies seeking to provide crypto-asset-related services exists not only in Cyprus but across Europe, adding that “we already have some very large companies that have obtained a licence to promote such services, whether investment or crypto-asset services.”

“We are seeing significant interest from very large and stable companies seeking to obtain a licence from the Commission and to offer their services across Europe through Cyprus,” he underlined.

He also pointed out that the first half of 2026, during which Cyprus will hold the EU Presidency, “is particularly important for us, as many significant legislative initiatives related to capital markets are expected from Europe.”

When asked how many companies currently offer cryptocurrency services, Mr Theocharides said that three investment firms have expanded their licences to provide crypto-asset services, while five companies have been licensed exclusively to offer crypto-asset services.

He reiterated that there are 21 pending applications from companies seeking authorisation, adding once again that some of the already licensed firms are very large companies with millions of clients across Europe.

“This is very positive for Cyprus, as these companies have placed their trust in the country to provide their services across Europe, but at the same time it increases the demands placed on CySEC,” he concluded.