Crypto licence in SlovakiaOverview
Before MiCA, virtual currency exchange and wallet services in Slovakia were run under a trade licence with anti-money laundering obligations, a low barrier that attracted many small operators. Act No. 248/2024 Coll., adopted on 11 September 2024, designated the National Bank of Slovakia as the competent authority for crypto-assets, gave it powers to authorise and sanction CASPs, and set out how the old trade licences would be phased out.
Slovakia chose a twelve-month transitional period instead of the maximum eighteen. Under the act, existing operators could continue until 30 December 2025 unless an authorisation decision became final earlier, and trade licences for crypto services expired on that date by law. In September 2025 the NBS publicly reminded trade-licence holders to inform clients and wind down if they would not be authorised in time. Since 31 December 2025 continuing to provide services without authorisation is treated as unauthorised business, which can attract NBS sanctions and, in serious cases, criminal liability.
The national act adds a few Slovak-specific elements to MiCA. Applicants that rely on network and information systems must attach a description of their cybersecurity audit, and banks wishing to provide crypto-asset services must notify the NBS in advance. The act was amended with effect from 1 March 2026, so applications are now assessed under the updated text. Public reporting in early 2026 indicated only a handful of Slovak-based firms had been authorised, while dozens of foreign CASPs had notified passported services into Slovakia.
For founders, Slovakia offers a eurozone jurisdiction, a supervisor that publishes clear guidance and a compact market in which the authorisation can quickly be passported across the EU. The NBS nevertheless applies MiCA in full: it expects a genuine local management presence, a credible business plan and well-documented ownership and funding.
Key benefits
- Eurozone jurisdiction with the euro as operating and capital currency
- Authorisation passportable to all EU and EEA Member States
- Clear national implementing act and published NBS guidance
- Capital requirements scaled to the services actually offered
- Proximity to Central European talent and the Czech, Austrian and Hungarian markets
- Credible prudential status that supports banking relationships and institutional partnerships
Requirements
- Slovak joint-stock or limited liability company with registered office and place of effective management in Slovakia
- At least one director resident in the EU and a management body that meets fit-and-proper standards
- Own funds of at least EUR 50,000, 125,000 or 150,000 depending on the CASP class, or one quarter of prior-year fixed overheads if higher
- Transparent ownership with documented source of funds for qualifying shareholders
- Description of the cybersecurity audit for applicants using network and information systems (Act 248/2024)
- DORA-compliant ICT risk management and business continuity arrangements
- AML/CFT programme, travel-rule procedures and a designated compliance officer
- Client-asset segregation and custody policy where custody or exchange is offered
- Complaints-handling, conflicts-of-interest and outsourcing policies
Licence options & capital
Class 1 CASP
EUR 50,000 minimum own funds
Reception and transmission of orders, execution of orders on behalf of clients, placing of crypto-assets, providing transfer services, advice on crypto-assets and portfolio management. Suited to brokerage, advisory and introducing models that never hold client assets.
Class 2 CASP
EUR 125,000 minimum own funds
All Class 1 services plus custody and administration of crypto-assets on behalf of clients and exchange of crypto-assets for funds or for other crypto-assets. This is the usual tier for custodial wallets, brokers that hold client assets and exchange desks.
Class 3 CASP
EUR 150,000 minimum own funds
All Class 2 services plus operation of a trading platform for crypto-assets. Expect the most intensive review of market-abuse surveillance, rulebooks, matching systems and conflict management.
Step-by-step process
- 1
Feasibility and scoping
We confirm which MiCA services the business provides, the corresponding class and whether Slovakia is the right home state for the group.
- 2
Company formation and substance
Incorporation in the Slovak Commercial Register, capital deposit, appointment of directors and key function holders, and a local office.
- 3
Pre-application dialogue
Optional early discussion with the NBS on the business model and file structure, which helps reduce later information requests.
- 4
Application preparation
Programme of operations, policies, ICT and cybersecurity documentation and fit-and-proper files prepared in line with the MiCA technical standards.
- 5
NBS review
Completeness check within 25 working days, followed by a 40 working day assessment that may pause while the NBS requests additional information.
- 6
Authorisation and launch
Entry in the NBS and ESMA registers, passporting notifications for other Member States and go-live with ongoing supervisory reporting.
Typical documents
- Articles of association and Commercial Register extract
- Programme of operations and three-year business plan
- Evidence of paid-up capital and own-funds calculation
- Fit-and-proper questionnaires, CVs and criminal record extracts for directors and qualifying shareholders
- Source-of-funds documentation and group structure chart
- AML/CFT manual, risk assessment and travel-rule procedures
- Cybersecurity audit description, ICT security policy and business continuity plan
- Custody and safeguarding policy where applicable
- Complaints, conflicts-of-interest and outsourcing policies
How Legal Wealth helps
Legal Wealth helps clients assess whether Slovakia suits their operating model, then coordinates incorporation, local substance and the full NBS application with Slovak counsel. We place particular weight on governance and on documenting ownership and the origin of funds clearly, which is where many applications falter, and we treat all beneficial-owner information with strict confidentiality. Once the CASP is authorised, we can support passporting, ongoing compliance and the integration of the licensed company into the founder's wider holding, residence and succession planning.
Enquire with Legal WealthFrequently asked questions
Can I still provide crypto services in Slovakia under a trade licence?
No. Trade licences for virtual currency services expired by law on 30 December 2025. Since then only NBS-authorised CASPs, notified financial institutions or CASPs passporting from another EU state may provide these services.
Who supervises crypto-asset service providers in Slovakia?
The National Bank of Slovakia, designated by Act No. 248/2024 Coll. as the competent authority for MiCA. It authorises, supervises and sanctions CASPs.
What capital is required?
MiCA sets EUR 50,000 for Class 1 services, EUR 125,000 for Class 2 and EUR 150,000 for operating a trading platform, or one quarter of the previous year's fixed overheads if that is higher.
Is there anything Slovakia requires beyond MiCA?
Applicants using network and information systems must include a description of their cybersecurity audit, and banks must notify the NBS before starting crypto activities.
Can a Slovak CASP serve clients in other EU countries?
Yes. After authorisation it notifies the NBS of the Member States and services concerned, and may begin cross-border services once the notification has been transmitted to the host authorities.
Last reviewed: 2026-10. Requirements, fees and timelines change. Information is general, reviewed on the date shown, and is not legal or tax advice.
