COREDO > Licensing > Cryptocurrency license in Czech Republic

Cryptocurrency license in Czech Republic

Virtual Asset Service Provider (VASP)

A cryptocurrency licence in the Czech Republic is an authorisation to carry out activities involving virtual assets (VASP) in accordance with Czech and EU legislation. The licence is issued to companies providing services related to the exchange, custody, and management of digital assets, as well as other associated crypto services.

A Czech VASP licence enables companies to operate lawfully in one of the EU’s most transparent and predictable jurisdictions, with access to the wider European market. The regulatory framework features clear requirements, a straightforward registration process, and consistent regulatory practice.

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Cost of the service
from 29 000 EUR

Over the past decade, the Czech Republic has developed a robust financial system with transparent legislation. The country’s cryptocurrency regulation ensures a reliable business environment that clients trust. One of the key standards is obtaining a cryptocurrency licence, which allows companies to offer virtual asset services to their clients.

With a stable economy and banking system, the Czech Republic reduces risks for the cryptocurrency business, particularly when opening corporate accounts and conducting international transactions.

Under the new legislation, the Czech National Bank will serve as the regulator (National Competent Authority).

Regulatory Framework

At the European Union level, two key legislative acts were adopted to regulate the activities of cryptocurrency-related companies:

Markets in Crypto-Assets Regulation (MiCA);
Digital Operational Resilience Act (DORA).

These regulations are directly applicable in all EU member states, including the Czech Republic.

In the Czech Republic, the new regulatory requirements are reflected in the following documents:

Digital Finance Act;
Act amending certain laws.

Starting from January 1, 2025, all VASPs (Virtual Asset Service Providers) operating within the Czech Republic must undergo a re-licensing process to ensure compliance with the updated standards and requirements for obtaining a license.

Categorisation of crypto licences in the Czech Republic

The new legal framework establishes three categories of licences:

01Crypto-Asset Service Provider (CASP)

A legal entity providing services involving crypto-assets. CASPs are divided into three classes:

Class 1:

Execution of orders for the purchase and sale of crypto-assets.
Listing of crypto-assets on the market.
Receiving and transmitting orders.
Advisory services on crypto-assets.
Crypto-asset portfolio management.
Transfer of crypto-assets between addresses.

Class 2 (in addition to Class 1):
- Custodial storage of crypto-assets.
- Exchange of crypto-assets for fiat currency or other crypto-assets.

Class 3 (in addition to Class 2):
- Management of crypto-asset trading platforms.

02Issuer of asset-backed tokens

Issues crypto-assets tied to value (e.g., commodities, rights, or currency).

03Issuer of e-money tokens

Issues tokens backed by a single official currency.

MiCA does not apply to NFTs and certain financial instruments.
Details of obtaining a licence depend on the type of activity and are discussed on an individual basis.

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Advantages of Obtaining a Virtual Asset Licence in the Czech Republic

A Czech licence provides access to the European Economic Area (EEA) market, allowing companies to operate in EU countries without requiring additional permissions. This significantly expands the business's geographical reach and client base.

The favourable regulatory environment simplifies the licensing process. In the Czech Republic, the requirements for cryptocurrency companies are clear and relatively straightforward, with minimal bureaucratic hurdles.

Attractive tax conditions help reduce operational costs. Companies in the cryptocurrency sector can benefit from a favourable tax system, improving profitability.

Compared to other EU jurisdictions, the minimum capital requirements for crypto companies in the Czech Republic are less stringent, making licensing accessible to small and medium-sized businesses.

Regulatory support ensures legal protection. The Czech National Bank oversees compliance with the law and helps licensed companies operate in a stable and transparent legal environment.

Banks are more accommodating towards cryptocurrency companies. Unlike in many other EU countries, where it is difficult for crypto businesses to open a bank account, several Czech banks are willing to collaborate with licensed companies if they have clear AML/KYC policies in place.

Cost of Obtaining a Licence in the Czech Republic

COREDO offers its clients the option to select any of the following services individually or as part of a full package:

01. Initial Case Assessment:

5000 EUR + VAT

Providing detailed information about the requirements.
Analyzing the provided information and documentation, identifying problem areas and potential solutions.
Drawing up an individual plan for preparing the application for a CASP licence.

02. Establishment of a Legal Entity in the Czech Republic:

1150 EUR + VAT

Preparation of the necessary documents for registering and incorporating a new company in the Czech Republic (physical/remote registration).
Acquisition of a legal address for the company for one year.
Payment of state fees related to company registration and incorporation.
Registration and incorporation of the company in accordance with Czech law.
Obtaining the necessary business licences (except for the CASP licence) from the Trade Licensing Office for the company.
Translation of required documents for company registration.

03. Preparation of Application and Supporting Documents and Further Interaction with CNB

from 29 000 EUR to 49 000 EUR + VAT

Preparation of the necessary legal documentation for submission to the Central Bank of the Czech Republic.
Development of a business and financial plan in accordance with the three-year business model.
Consultation on necessary adjustments.
Coordination with the Central Bank of the Czech Republic during the application review.

The price may vary depending on the specific project.

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Factors affecting the final cost of COREDO services:

Results of the Initial Case Assessment — determining the level of COREDO specialists’ involvement in preparing the application and developing the required documents.
Necessary Classes of services within CASP.

Payment Terms

Prepayment

40% of the total service cost.

This payment must be made before the "Preparation of Application and Supporting Documents" phase.

Interim Payment

40% of the total service cost.

This payment must be made before the "Application Submission and Interaction with CNB" phase, after agreeing on the prepared application and documents

Final Payment

20% of the total service cost.

This payment must be made after the "Decision on the Application by the CNB" phase.

Requirements for applying for a licence

When applying for this type of activity, a company is supposed to meet several requirements. The standard list of requirements includes:

Confirmation of minimum capital availability:

The minimum capital requirements for CASP depend on its assigned class:

Class 1: The minimum capital requirement is 50,000 EUR.
Class 2: The minimum capital requirement is 125,000 EUR.
Class 3: The minimum capital requirement is 150,000 EUR.

Company management must confirm:

Good repute (criminal record certificate).
Experience in a management position – at least 3 years.
Experience in the cryptocurrency sector – at least 3 years.
Relevant qualifications (certificates, diplomas).

Segregation of crypto-assets and client funds:

The company must provide relevant documentation and policies confirming compliance with this requirement.

Documents and information required to obtain a licence in the Czech Republic

All documents must be submitted in the Czech language.

Documents on management and shareholders:

Passport or ID card.
Proof of residential address.
Bank statement for the past 6 months or tax return.
Completed KYC forms.
CV (resume).
Diplomas, certificates.

Business plan and financial plan:

Three-year activity program with a description of the services to be provided.

Confirmation of capital contribution:

Bank statement.

Internal control and governance:

Organisational structure, key personnel, policies, and procedures.

Risk management:

Anti-money laundering policies, business continuity plan.

Technical documentation:

Cybersecurity audit, description of ICT systems.

Segregation of clients’ crypto-assets and funds:

Policies, procedures, and bank agreements.

Custody and administration policy (if applicable):

Custody procedures, risk identification, and outsourcing.

Operating rules of the trading platform (if applicable):

Admission conditions, fee structure, and market surveillance.

010

Commercial policy and pricing (if applicable):

Client interaction policy, pricing methodology.

011

Order execution policy (if applicable):

Execution factors, quality control.

012

Qualification confirmation for advisers (if applicable):

Policies and mechanisms for assessing knowledge and experience.

013

Description of crypto-asset transfer services (if applicable):

Types of crypto-assets, client information procedures.

014

White paper (if applicable).

Action plan for obtaining a CASP licence in the Czech Republic

Initial case assessment:

Assessment by COREDO specialists, collection of information.
Determination of timelines, costs, and level of involvement.

Duration: approximately 1 week.

Legal entity establishment

Company formation in the Czech Republic.

Duration: 2 – 4 weeks.

Application preparation

Collection and preparation of required documents.
Consideration of the business specifics and chosen service classes.

Duration: about 2 months, depending on the completeness of data.

Application submission and interaction with CNB

Monitoring the progress of the application.
Prompt provision of requested information.

CNB decision

Application review takes from 3 to 6 months.
Licence entry in the CNB register.

COREDO’s support in obtaining a CASP licence

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 provides professional support at every stage of the licensing process, from the initial project assessment through to the issuance of a CASP licence.

We assist you in completing all stages in line with the new MiCA requirements, ensuring that legal, financial, and operational aspects are fully addressed and that all documentation is prepared to the highest standard. Our experts provide comprehensive support, helping minimise risks and speed up the licensing process.

Do you still have questions about obtaining a licence for your business? Get a consultation on CASP licensing in the Czech Republic today

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

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