MiCA regulation in Czech republic. What are the regulatory requirements and what should VASP companies prepare for?
On 30 December 2024, Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA) entered into force, establishing uniform rules for crypto-asset service providers (VASPs/CASPs) across the European Union. In the Czech Republic, a transition period has begun for existing providers, which allows them to continue operating and simultaneously apply for a licence from the Czech National Bank (CNB) until 31 July 2025. From 1 July 2026, it will be prohibited to provide services without an appropriate licence.
The transition period began on 31 December 2024 and will end on 30 June 2026. The application for a licence must be submitted by 31 July 2025, otherwise it will no longer be possible to operate without a CNB licence from 1 July 2026. All service providers operating in the Czech Republic are required to bring their operations into line with the new requirements and submit an application in a timely manner if they intend to continue operating after the end of the transition period.
As of 30 December 2024, an amended version of Article 22 of the Anti-Money Laundering (AML) Act came into force, requiring all companies holding a VASP/CASP license to employ a local employee responsible for compliance with KYC/AML requirements. Such an employee must be a resident of the Czech Republic and fulfill the obligations prescribed by the national regulator. His main tasks include monitoring compliance with AML/ATF procedures in accordance with Act No. 253/2008 Coll., checking VASP/CASP clients and transactions in the field of combating money laundering and terrorist financing, and interacting with regulatory authorities of the Czech Republic, including the FAU (Financial Analytical Unit).
All VASP/CASP companies in the Czech Republic are required to notify a contact person FAU. The Finance Ministry regulation comes into force on 1 February 2025, and from then on companies will have 30 days to comply with this requirement. The last day for notification will be 3 March 2025. The responsible person (Contact Person with FAU) must be formally appointed in the company and perform functions for monitoring transactions and checking clients within the framework of national legislation.
As of 2025, the Czech Republic ranks first in the European Union in terms of the number of active crypto companies. The country attracts crypto businesses due to transparent regulation, favorable taxation, and a stable legal environment. Many international companies choose the Czech Republic as a base jurisdiction for their virtual asset activities.
The Czech government has demonstrated a friendly attitude towards the cryptocurrency industry, supporting innovation and creating conditions for sustainable growth of the sector. Regulatory authorities actively interact with market participants, which allows for the implementation of effective compliance and consumer protection mechanisms, maintaining the country's competitiveness in the field of digital financial technologies.
Regulated United Europe provides full legal support to VASP/CASP companies when obtaining Czech Republic crypto license, including preparing and submitting applications for a CNB license, developing an internal AML/ATF policy in accordance with Czech law, assistance in recruiting a qualified local KYC/AML officer, as well as consulting and preparing documents to meet FAU notification requirements. The transition to MiCA regulation requires careful preparation, and failure to meet deadlines may result in the inability to continue providing services. Regulated United Europe provides comprehensive support to crypto companies to comply with the new requirements and successfully obtain licensing in the Czech Republic.