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In April 2023, the European Parliament adopted a regulation on markets in crypto-assets, the so-called MiCA (Markets in Crypto-Assets), which sets a legal framework for crypto-assets across the EU. Crypto-assets, as a digital expression of value or rights that can be transferred and stored electronically using distributed transaction database technology or similar technology, have enjoyed increased popularity over the past decade, with current trends indicating a continuation of the established pace of expansion of the field. Generally, crypto-assets can be divided into crypto-assets expressing value and crypto-assets expressing rights. Crypto-assets expressing value are most often used as means of payment or investment instruments. In the case of so-called cryptocurrencies or tokens backed by assets (so-called stablecoins), one can observe overlap crypto-asset are tokens backed by money (so-called e-money tokens or electronic money tokens). Utility tokens and non-fungible tokens (so-called NFT) are a special group of crypto-assets that primarily express rights.

Hronček & Partners, s. r. o.
Smart legal services

 

Application for the issuance
of a permit in crypto-assets

The MiCA Regulation sets out rules for requirements related to the transparency and disclosure of information in connection with the issuance of crypto-assets and their admission to trading, the granting of permits to crypto-asset service provider, asset-backed token issuers and electronic money token issuers and their supervision, the operation, organisation and management of asset-backed token issuers, electronic money token issuers and crypto-asset service providers, as well as other aspects of crypto-assets markets.

One of the regulated services of crypto-assets is also the custody and management of crypto-assets on behalf of third parties, which means: the custody or control of crypto-assets or means of access to such crypto-assets on behalf of third parties, or in the form of private cryptographic keys.

15 000 €

The MiCA Regulation sets out rules for requirements related to the transparency and disclosure of information in connection with the issuance of crypto-assets and their admission to trading, the granting of permits to crypto-asset service provider, asset-backed token issuers and electronic money token issuers and their supervision, the operation, organisation and management of asset-backed token issuers, electronic money token issuers and crypto-asset service providers, as well as other aspects of crypto-assets markets.

One of the regulated crypto-asset services is also the operation of a trading platform for crypto-assets, which means: the management of one or more trading platforms for crypto-assets, within which several third parties interested in buying and selling crypto-assets can interact in a manner that results in a contract, i.e., either the exchange of one crypto-asset for another, or the exchange of a crypto-asset for fiat currency that is a legal tender.

20 000 €

The MiCA Regulation sets out rules for requirements related to the transparency and disclosure of information in connection with the issuance of crypto-assets and their admission to trading, the granting of permits to crypto-asset service provider, asset-backed token issuers and electronic money token issuers and their supervision, the operation, organisation and management of asset-backed token issuers, electronic money token issuers and crypto-asset service providers, as well as other aspects of crypto-assets markets.

One of the regulated crypto-asset services is also the exchange of crypto-assets for fiat currency, which means: concluding purchase or sale contracts relating to crypto-assets with third parties, while the consideration is represented by fiat currency that is a legal tender, using own capital.

15 000 €

The MiCA Regulation sets out rules for requirements related to the transparency and disclosure of information in connection with the issuance of crypto-assets and their admission to trading, the granting of permits to crypto-asset service provider, asset-backed token issuers and electronic money token issuers and their supervision, the operation, organisation and management of asset-backed token issuers, electronic money token issuers and crypto-asset service providers, as well as other aspects of crypto-assets markets.

One of the regulated crypto-asset services is also the exchange of crypto-assets for other crypto-assets, which means: concluding purchase or sale contracts relating to crypto-assets with third parties, while the consideration is represented by other crypto-assets, using own capital.

15 000 €

One of the regulated crypto-asset services is also the execution of instructions relating to crypto-assets on behalf of third parties, which means: concluding agreements on the purchase or sale of one or more crypto-assets or the underwriting of one or more crypto-assets on behalf of third parties.

15 000 €

One of the regulated crypto-asset services is also the placement of crypto-assets, which means: placing newly issued crypto-assets or crypto-assets that have already been issued, but which have not yet been accepted for trading on a trading platform for crypto-assets, on the market for designated buyers, which does not include a public offering nor an offer to existing holders of the issuer's crypto-assets.

15 000

The MiCA Regulation sets out rules for requirements related to the transparency and disclosure of information in connection with the issuance of crypto-assets and their admission to trading, the granting of permits to crypto-asset service provider, asset-backed token issuers and electronic money token issuers and their supervision, the operation, organisation and management of asset-backed token issuers, electronic money token issuers and crypto-asset service providers, as well as other aspects of crypto-assets markets.

One of the regulated crypto-asset services is also accepting and forwarding instructions relating to crypto-assets on behalf of third parties, which means: accepting an instruction to buy or sell one or more crypto-assets or underwriting one or more crypto-assets from a person and forwarding this instruction to a third party for execution.

15 000 €

One of the regulated crypto-asset services is also the provision of advice on crypto-assets, which means: offering, providing or agreeing to provide personalised or specific recommendation to a third party, either at the request of a third party or at the instigation of a crypto-asset service provider who provides advice on the acquisition or sale of one or more crypto-assets or on the use of crypto-asset services.

8 000 €

Find out more about our services

Certain activities can be carried out on the territory of the Slovak Republic only after the granting of a special permit, license or certificate by the relevant public authority. The performance of these activities is regulated by legal regulations and it is possible to perform them only after meeting the conditions established by these legal regulations. In general, if it is a regulated profession (regulated activity), in order to access the given profession (activity), you must have a specific second-level university education, pass special exams, or ) to perform and register with the relevant expert body.

Obtaining a business license can be a very time-consuming matter. It is therefore easier and more efficient for the client to outsource the preparation of the permit application itself, so that the time invested in starting or developing the business can be devoted to more important tasks.

Yes, we have mastered these types of activities, many several times and we do several of them regularly, even if they are not completely common for the Slovak market. Therefore, compared to the establishment of ordinary companies, requests for obtaining a permit to carry out business activities are not made so often.

Some authorizations, for example gambling licenses issued by the competent authority of the Slovak Republic, are valid only in our territory. If you want to do business in this field abroad (European Union), you must obtain the equivalent of this license in the respective country. Our law office can also find out whether your activity is specifically regulated in another EU country and at the same time help you with the registration process in these countries.

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