On May 25, 2017, the government of Cyprus launched a consultation on a discussion paper, accompanied with a statement on its approach to areas of national discretion and a draft law which seeks to transpose the 4th Anti-Money Laundering Directive (4th AMLD) in this country.
This consultation closed on June 1, 2017, and the text of the draft law has yet to be introduced before parliament.
Update: October 6, 2017. The EBA published an opinion on limitation to cash payments in relation to a relevant query submitted by the Republic of Cyprus. The EBA confirmed that the provisions of the draft law were aligned with point (e) of Article 2(1)(3). The opinion can be found here.