The Cyprus Securities and Exchange Commission (CySEC) launched its Regulatory Sandbox on Tuesday during an online event, inviting interested parties to apply.

According to a statement from CySEC, this initiative marks a significant milestone in the advancement of financial, regulatory, and supervisory technologies (FinTech, RegTech, and SupTech) in Cyprus.

"With the creation of the Regulatory Sandbox, we are taking a significant step forward in further promoting responsible innovation in the financial services sector. Our aim is to support the development of solutions that keep pace with technological advancements, without compromising market integrity and investor protection," said CySEC Chairman George Theocharides.

The online inaugural event attracted over 500 stakeholders from the financial sector, including representatives of supervisory authorities, financial institutions, and technologically innovative companies. Participants were briefed on the operational framework of the Regulatory Sandbox and the potential benefits for those involved.

For more information on the Regulatory Sandbox and how to participate, visit the Cyprus Securities and Exchange Commission's website.