24/10/25
As of 30 December 2024, the Czech Republic has fully implemented the EU’s Markets in Crypto-Assets Regulation (MiCA), introducing a comprehensive legal framework for cryptocurrency businesses operating within its jurisdiction.
🧾 Key Facts: MiCA and CASP Licensing
Under MiCA, all Virtual Asset Service Providers (VASPs) in the Czech Republic are required to obtain a Crypto-Asset Service Provider (CASP) license from the Czech National Bank (ČNB). This regulation mandates compliance with stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures, aligning with EU directives to enhance transparency and security in crypto transactions.
⚖️ Comparative Analysis: MiCA vs. PSD2
A notable aspect of the Czech regulatory environment is the potential overlap between MiCA and the EU’s Payment Services Directive 2 (PSD2). Certain crypto services may fall under both regulatory scopes, necessitating dual licensing. Failure to navigate this complexity can result in significant financial penalties. Crypto businesses must assess their service offerings to determine the applicable regulatory requirements and avoid inadvertent non-compliance.
💼 Sector Impact: Implications for Crypto Businesses
The introduction of MiCA and the CASP licensing requirement marks a significant shift in the Czech crypto landscape. While the regulatory environment aims to foster innovation, it also imposes rigorous compliance obligations. Crypto businesses must ensure they meet the ČNB’s licensing criteria, which include robust governance structures, risk management frameworks, and operational transparency. Non-compliance can lead to operational disruptions and reputational damage.
In summary, the Czech Republic’s adoption of MiCA presents both opportunities and challenges for crypto businesses. Navigating this new regulatory framework requires careful planning and expert legal guidance. At NUR Legal, we specialise in assisting crypto businesses with obtaining CASP licenses, ensuring compliance with MiCA, and addressing any regulatory complexities. Contact us today to secure your position in the evolving Czech crypto market.
Visit us at NUR-Legal.com or contact us directly at info@nur-legal.com
Kätrin Särap