Transitional period for the business of virtual currency wallet and virtual currency exchange service providers shortened by half a year

The transitional period for the business of providers of virtual currency wallet services and virtual currency exchange services has been shortened by half a year. These entities will therefore have to obtain a MiCA Regulation authorisation by 30 December 2025 at the latest if they wish to continue their activities in Slovakia. This shortening was decided by the Parliament last week, with the report of the committee in charge stating that the transitional period of 12 months should be “sufficient to obtain the relevant authorisation to provide cryptoasset services”. Given the fact that Level 2 and Level 3 regulation, which will be key to getting the application for authorisation right, has not yet been finalised, and the huge leap that the transition to doing business under MiCA regulation will represent for these entities, the next year will be quite intense 🙂. We also try to point out that the regulation of cryptoassets is a complex area, comparable in its robustness to the regulation of other financial sectors, on our new linkedin site Highgate Crypto. At the same time, I will be presenting on licensing procedures for crypto asset service providers together with Peter Varga at our conference in October, which will also cover the following topics: – Crypto business and investing – legal, tax, accounting and regulatory infrastructure
– Key aspects of the NBS licensing process
– Crypto and the challenges for companies in the financial sector – panel discussion
– How is the market preparing for MiCA regulation?
Crypto Taxation and Tax Optimisation
– Crypto Assets, Fraud Tracking and the Financial Intelligence Unit’s Approach – Panel Discussion
– Setting up companies abroad for crypto purposes – perspectives from the UAE, Cyprus, Gibraltar and the Czech Republic – Panel Discussion