A continuously variable transmission with increased ratio coverage and provided with a drive belt (3) including a ring set (31) and with two pulleys (1, 2), each comprising two, relatively axially displaceable pulley discs (4, 5), where between a circumference section of the drive belt (3) is held and a method for controlling such continuously variable transmission. During operation of the transmission and at least at one pulley (1, 2) thereof, the ring set (31) extends at least partly beyond a radial dimension of the pulley discs (4, 5) at a point of entry of the drive belt (3) between the pulley discs (4, 5) of such respective pulley (1, 2) and, simultaneously, is located between and is constrained in the axial direction by the pulley discs (4, 5) at a point of exit of the drive belt (3) from between the pulley discs (4, 5) of such respective pulley (1, 2).