In this episode, we examine the key lessons from Administrative Court Judgment No. 975/2020 and what it means for EMIs and other regulated entities in Cyprus. The Administrative Court's Judgment No. 975/2020 confirms that regulatory licences in Cyprus are conditional upon continuous compliance and may be revoked where ongoing legal and supervisory obligations are not met. Upholding the Central Bank of Cyprus' decision to revoke an EMI licence, the Court reaffirmed regulators' broad supervisory discretion, emphasising that regulated entities must be able to demonstrate active compliance at all times. The judgment also makes clear that dormant licences, future promises of compliance, and claims of reputational or economic harm are insufficient to challenge lawful regulatory action, reinforcing the importance of proactive compliance for all regulate ...