Set up a Czech Cryptocurrency Company

Interested in getting a crypto license in the Czech Republic? We advise you to find out all the details in this regard from one of our experts in starting a company in the Czech Republic. Our team can help foreign and local businessmen register a company in the crypto field by managing the formalities. The following lines offer information about the Virtual Asset Service Provider (VASP) license in the Czech Republic and the way a crypto company can be formed.

Conditions for obtaining a Virtual Asset Service Provider (VASP) license in the Czech Republic

Obtaining a Virtual Asset Service Provider (VASP) license in the Czech Republic was required under the former national regime; since 30 December 2024 crypto-asset services require a MiCA authorisation as a crypto-asset service provider (CASP) from the Czech National Bank, and the transitional period for existing VASPs ended on 1 July 2026. Our specialists can guide you on how to obtain this type of license and advise you to benefit from a fast issuance process. Here’s what to keep in mind when applying for a VASP license:

• Anti-money laundering policy (AML), company documents, and IDs of business holders are required to apply for a Virtual Asset Service Provider (VASP) license in the Czech Republic.
• The documents must be submitted to the Czech National Bank (CNB), the competent authority for crypto-asset service providers under MiCA for approval. A verification period is followed.
• As part of the process of obtaining a cryptocurrency license in the Czech Republic, a fee of about EUR 3,400 is also required.
• The CNB will run due diligence and verify the management structure of the future crypto company.
• A business plan must be submitted that contains details about the business, as well as the type of platform or software used. Czech translation for this document is required if it is drafted in a foreign language.
• Information is solicited regarding the non-cash bank account for virtual currency transactions.
• If you want to hire staff, you need to make sure that they have the necessary experience in the field.
• Security and data protection policies will be prepared for customers.

It is worth noting that the Czech Republic provides lower complexities in setting up a cryptocurrency company. As such, a Virtual Asset Service Provider (VASP) license in the Czech Republic is no longer issued: crypto businesses now need a MiCA authorisation, and approvals have been slow (by 1 July 2026 the CNB had granted 11 authorisations out of about 251 applications). Even so, we recommend that you opt for the services of our Czech agents and ensure that you understand all the procedures related to company incorporation in the Czech Republic and obtaining a crypto license.

Cryptocurrency regulations in Czech Republic  

The cryptocurrency industry in the Czech Republic was not regulated by the local authorities until recently, but the Czech government created a legal framework for such activities at the beginning of 2017, imposing new rules for the service providers operating in this country. We mention a few of them, if you want to open a cryptocurrency company in the Czech Republic:

• Businessmen who want to open a cryptocurrency company in the Czech Republic must know that the Finance Ministry requires such companies to determine the identity of the users.
• Cryptocurrency companies need to comply with a set of additional regulations. Under the former regime they had to register with the Trade Licensing Authority; since MiCA they need CNB authorisation. Provided that the company did not conclude all the necessary steps (and in due time) in order to obtain the crypto exchange license in the Czech Republic, the institution is allowed to apply a fine of up to CZK 500,000. 

Anti-money laundering rules in Czech Republic

Cryptocurrency businesses operating in this country have to comply with the rules prescribed under the Czech Anti-Money Laundering Act (Act No. 253/2008 Coll.), which defines what a cryptocurrency is and the types of entities that use cryptocurrencies. At a European level, EU member states must enact in their national laws the EU’s Fifth Anti-Money Laundering Directive, which stipulates the specific types of cryptocurrency activities that must fall under the scope of this law. 

Since 30 December 2024, crypto-asset services have been fully regulated under the EU MiCA Regulation and the Czech Act No. 31/2025 Coll., and this is why those interested in starting the procedure of company formation in the Czech Republic should verify the current requirements (including the licensing requirements); our team of specialists in Czech company incorporation can provide in-depth details about how to open a cryptocurrency company in Czech Republic.

What is Small Payment Institution?

A Small Payment Institution or SMI is a payment-services licence granted by the CNB; it is not a crypto licence (crypto-asset services need a MiCA authorisation), but it can complement a crypto business that also handles fiat payments in the Czech Republic. This type of license allows the creation of merchant clarifications and processing developments, fiat and non-fiat funds exchange, and even the opening of accounts for clients. Such a crypto exchange license in the Czech Republic is suitable for those who want to operate in this sector as soon as possible with their business.

Know Your Customer (KYC) procedures in the Czech Republic  

Companies that accept Bitcoin transactions in the Czech Republic will be required to apply the Know Your Customer (KYC) procedures for all crypto-asset transfers, regardless of amount (since 30 December 2024 the EU Transfer of Funds Regulation 2023/1113 requires originator and beneficiary data for every transfer). In this sense, the procedure of company formation in the Czech Republic for cryptocurrency businesses will require merchants to request information on their clients, such as: identity card, gender, nationality, and address. 

Some information about the crypto license in the Czech Republic in 2025

The crypto license in the Czech Republic is granted by the Czech National Bank under the EU MiCA Regulation. Here is other interesting information to know when applying for such a license:

• The Czech Republic crypto license is governed by the EU MiCA Regulation (2023/1114) and the Czech Act No. 31/2025 Coll.; the former trade-licence regime has ended.
• Cryptocurrency companies are regulated financial-market entities in the Czech Republic, and therefore, are liable to obtain a crypto license, or better said, a MiCA crypto-asset service provider (CASP) authorisation from the CNB in the Czech Republic.
• In the Czech Republic, opening a company requires a minimum share capital of CZK 1, but a crypto-asset service provider must hold minimum own funds of EUR 50,000, EUR 75,000 or EUR 150,000 under MiCA, depending on the services provided.
• Under MiCA, the CNB has 25 working days to check an application for completeness and a further 40 working days to decide (in practice it often takes longer) on a crypto-asset service provider (CASP) authorisation in the Czech Republic.

Additional assistance in business can be provided by our accountants in the Czech Republic when starting a crypto company here. Businessmen are invited to contact our team for further details about how to open a cryptocurrency company in the Czech Republic. We can assist in getting the Virtual Asset Service Provider (VASP) license in the Czech Republic.