COREDO > Licensing > Cryptocurrency licence in Slovakia

Cryptocurrency licence in Slovakia

Crypto-Asset Service Provider (CASP)

A cryptocurrency licence in Slovakia constitutes the status of a Crypto-Asset Service Provider (CASP), which is required for the lawful provision of crypto-related services in accordance with the EU Markets in Crypto-Assets Regulation (MiCA).

The regulatory framework requires compliance with enhanced standards in the areas of AML/KYC, corporate governance, operational transparency and customer protection, while Slovakia maintains a balanced and pragmatic regulatory approach without imposing excessive administrative burdens on bona fide market participants.

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Cost of the service
from 29 000 EUR

A cryptocurrency licence in Slovakia involves obtaining the status of a Crypto-Asset Service Provider (CASP), which is mandatory for the lawful provision of crypto services under the EU MiCA Regulation and applicable AML/KYC requirements.

The regulatory approach is based on the principle of proportionality: capital requirements, internal policies and organisational structure depend on the nature and scope of the services provided, with a particular focus on operational transparency, risk management and the protection of clients. Within the scope of a CASP licence, companies are entitled to provide specific types of crypto services, including the exchange and custody of crypto-assets, as well as related services, within the unified legal framework of the European Union.

All activities related to crypto-assets in Slovakia are regulated in accordance with European legislation. This regulation is primarily aimed at ensuring compliance with anti-money laundering and counter-terrorist financing (AML/CFT) directives. All operations involving digital finance, similar to operations with fiat financial assets, must be transparent and supervised.

Regulatory and Legal Framework

In Slovakia, activities related to crypto-assets are regulated at both the European Union and national levels.
The legal framework is primarily based on:

Markets in Crypto-Assets Regulation (MiCA), which establishes uniform requirements for licensing, consumer protection, and the supervision of operations with digital assets.
Digital Operational Resilience Act (DORA), aimed at enhancing the cybersecurity of financial institutions, including cryptocurrency companies.

These regulations have direct effect in all EU countries, including Slovakia.

In Slovakia’s national legislation, the provisions of these European acts are enshrined in:

Act No. 248/2024 Coll. “On certain duties and rights in the field of crypto-assets and on amendments to certain laws.”

As of December 30, 2024, all Virtual Asset Service Providers (VASPs) operating in Slovakia are required to undergo a re-licensing process to bring their activities into compliance with the requirements of the EU Markets in Crypto-Assets Regulation (MiCA), including the completion of the prescribed procedure for obtaining the status of a Crypto-Asset Service Provider (CASP).

Compliance monitoring and supervision of CASPs are carried out by the National Bank of Slovakia (NBS), which has been designated as the national competent authority.

License Categorization

Under the new legislative framework, licenses are divided into three categories:

01Crypto-Asset Service Provider (CASP)

A legal entity providing services divided into three classes:

Class 1:

Execution of orders for crypto-assets on behalf of clients.
Placing of crypto-assets.
Reception and transmission of orders for crypto-assets.
Advice on crypto-assets.
Portfolio management on crypto-assets.
Transfer services for crypto-assets.

Class 2: Includes all Class 1 services plus:

Custody and administration of crypto-assets on behalf of clients.
Exchange of crypto-assets for a fiat currency or other crypto-assets.

Class 3: Includes all Class 2 services plus:

Operation of a trading platform for crypto-assets.

02Asset-Referenced Token (ART) Issuer

Issues crypto-assets that maintain a stable value by referencing other assets, rights, or a combination thereof, including official currencies.

03E-Money Token (EMT) Issuer

Issues crypto-assets that maintain a stable value by referencing the value of one official currency.

The MiCA Regulation does not apply to unique and non-fungible crypto-assets (NFTs) and certain other categories, including financial instruments.

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Advantages of Obtaining a License in Slovakia

Due to its location and high living standards, Slovakia is an excellent country for conducting business related to crypto-assets, as such activities are fully legal.

Other advantages of obtaining a cryptocurrency license in Slovakia include:

Favorable regulation of cryptocurrency company activities.

Relatively easy and low-cost licensing process.

Flexible taxation system with low taxes for crypto businesses.

Legislative stability and a high level of protection for business owners' rights.

100% foreign ownership of the company is permitted.

No regulatory restrictions on the movement of capital and income.

Our Services and Costs

You can choose individual services or a complete package.

01. Initial Case Assessment

€5,000 + VAT

Detailed review of requirements.
Analysis of documentation and identification of risks.
A customised plan for preparing the CASP license application.

02. Company Registration in Slovakia

€1,150 + VAT

Preparation of documents and company registration (remote or in-person).
Registered legal address for 1 year.
Payment of state fees and obtaining necessary business permits (excluding the CASP license).
Translation of documents.

03. Application Preparation and Interaction with the NBS

from €29,000 to €49,000 + VAT

Preparation of a complete set of documents required for submission to the NBS.
Submission of the application to the NBS and monitoring of the document review process.
Prompt response in case any adjustments are needed.
Liaison with the NBS until a final decision on the application is issued.

Price may vary depending on the specific case.

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The final cost depends on:

Results of the initial case assessment and the level of COREDO specialists’ involvement.
Necessary CASP service classes.

Payment Stages

Advance Payment

40% of the total service fee.

This payment must be made before the commencement of document preparation.

Interim Payment

40% of the total service fee.

This payment must be made before the submission of the application to the NBS.

Final Payment

20% of the total service fee.

This payment is made following the decision of the NBS.

Key Requirements for Obtaining a CASP License in Slovakia

To obtain a CASP license in Slovakia, a company must meet the following requirements:

Minimum Capital

Capital requirements depend on the license class:

Class 1 — €50,000.
Class 2 — €125,000.
Class 3 — €150,000.

Management Qualification

Members of the company’s management must:

Have a good reputation (confirmed by a certificate of no criminal record).
Have at least 3 years of experience in a management position.
Have at least 3 years of experience in the cryptocurrency sector.
Confirm their qualifications with certificates, diplomas, and other relevant documents.

Asset Segregation

A CASP is obligated to ensure a clear separation of company and client funds:

Client crypto-assets are to be held in separate wallets.
Client funds are to be placed in segregated accounts.

List of Required Documents for Submission to the NBS

To obtain a CASP license in Slovakia, the following package of documents must be prepared and submitted to the National Bank of Slovakia (NBS) and must be translated into the Slovak language:

Documents for Company Management and Shareholders:

Passport and ID card/driver’s license (scan of both sides).
Proof of residential address.
Bank statement for the last 6 months or a tax return to confirm financial standing.
Completed and signed KYC forms.
CV.
Diplomas, certificates, or other documents confirming professional knowledge and experience.

Business Plan and Financial Plan

For three years with a detailed description of services, types of crypto-assets, and target markets.

Proof of Capital Contribution

Bank statement.

Internal Governance Documents:

Organizational structure.
Information on key employees (with CVs and proof of experience).
Internal control policies and procedures.

Risk Management Policies

Documents on the identification, assessment, and management of risks, including measures against money laundering and terrorist financing.

Technical Documentation for IT Systems and Security:

Cybersecurity audit by an independent auditor.
Description of infrastructure and security systems.

Asset Segregation Documents:

Policies for separating client and company assets.
Bank agreements and statements.

Policy on the Custody and Administration of Crypto-Assets (applicable for Class 2):

Custody procedures.
Risk management procedures.
Outsourcing documents (if applicable).

Operating rules of the trading platform (applicable for Class 3):

Admission and trading rules.
Fee structure.
Mechanisms for detecting market abuse.

010

Commercial Policy and Pricing Methodology (applicable for Class 2):

Description of the pricing methodology.
Client engagement policy (must be non-discriminatory).

011

Order Execution Policy (applicable for Class 1):

Order execution mechanism.
Factors affecting order execution.
Quality monitoring.

012

Documents Confirming the Competence of Advisors and Portfolio Managers (applicable for Class 1):

Policies ensuring specialists have the necessary knowledge and experience.

013

Information on Crypto-Asset Transfer Services (applicable for Class 1):

Details on the types of crypto-assets and client information procedures.

014

White Paper

If applicable.

Action Plan for Obtaining a CASP License in Slovakia

Initial Case Assessment

At this stage, COREDO specialists will request detailed information from the client for a comprehensive project analysis. The main focus is on legal issues and compliance with Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) requirements.
Our staff assesses the application preparation timeline, the level of team involvement, and provides a preliminary cost estimate.
Timeline: approximately 1 week from the receipt of all data.

Registration of a Legal Entity in Slovakia

After agreeing on the details, the company registration process begins. The legal entity is established in accordance with your requirements and Slovak legislation.
Timeline: 2-4 weeks from the receipt of all necessary documents.

Preparation of the Application and Supporting Documentation

In collaboration with you, COREDO specialists will compile a complete package of documents for submission to the NBS. The list depends on the specifics of your business and the selected service classes.
Timeline: Approximately 2 months — depends on the completeness of the information provided and the involvement of both parties.

Submission of the Application and Interaction with the NBS

After submitting the application, COREDO will monitor the review process and respond promptly to NBS inquiries. Your participation may be required to provide additional information.
Important: COREDO specialists will support the process until the final decision from the regulator.

Decision on the Application by the NBS

The application review typically takes 3-6 months — the exact timeline depends on the workload of the NBS and the complexity of your project.
After approval, the license information is entered into the NBS register.

COREDO’s support in obtaining a cryptocurrency license in Slovakia

Pavel Kos

Head of the legal department

Basang Ungunov

Lawyer at Legal Department

Yulia Zhidikhanova

Customer Success Associate

By working with COREDO, you benefit from:

In-depth expertise

We understand all the nuances of crypto regulation across different jurisdictions.

End-to-end support

We handle the entire licensing process — from application to registration.

Tailored approach

We customise our solutions to your business model, covering exchanges, brokers, DeFi projects, and other structures.

Post-licensing support

We provide advice on AML, reporting, and regulatory compliance.

Transparency and trust

We operate fully within the law, strengthening your reputation with banks and business partners.

COREDO can help you simplify the registration process and obtain a cryptocurrency license in Slovakia with minimal time and effort.

Entrust the application preparation and interaction with the NBS to our experts, so you can focus on developing your business.

Do you still have questions about obtaining a licence for your business? Get a consultation on licensing in Slovakia today.

Our expert will contact you and explain how to obtain a licence for your business without unnecessary delays.

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