...which as other have commented, appears to not be the case. Cryptocyprus has also avoided the question, even though several people have now raised it.
If it this IPVO wasn't for a financial service I wouldn't be pushing this, but they want to start a bitcoin bank! What other important legal or regulatory things do they believe are ensured that aren't? It's something of a red flag, especially when it's probably only a matter of time before the wrong civil servants in some place or another start looking for excuses to close them down.
I didn't want it to seem as though I was avoiding the question, but I felt it was more appropriate for TAT to answer.
We are absolutely certain we could open our branches tomorrow and offer our planned services, there are no applicable regulations that would require us to obtain any licenses here in Cyprus. We are being pro-active and lobbying to change this, so we can offer lending products and other financial products. We are developing our systems and all policies and procedures to fit with the requirements placed on other financial institutions, this is still very much square pegs into round holes. The early indications from our lobbying efforts show that they understand this problem and we are moving forward to address this matter.
There needs to be an understanding that we are not operating within the US so guidelines set by FinCen and regulatory bodies in the US have no bearing whatsoever on our operations in Cyprus.