Starting from the New Year, the rules for trading crypto-assets in Slovakia and in the EU will become significantly stricter. 🔒🇸🇰 While up until now it was enough to simply notify the Licensing Authority of the intention to provide cryptocurrency exchange or wallet services, going forward a license from the National Bank of Slovakia will be required. 🏦✅
What does this mean in practice? ⚙️
• A company must have at least €125,000 in its own capital (not just in registered share capital). 💶
• It must implement precise and structured processes to prevent money laundering (AML). 🔍🛡️
• Trading with crypto-assets that cannot be traced will be prohibited. 🚫
These changes are being introduced with the goal of increasing transparency and security in the market. 💡📈
Do you think this is a step forward for the cryptocurrency ecosystem in Slovakia, or an overly strict limitation for emerging crypto projects?
If you have any questions, please contact our law firm office@ulclegal.com.
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