Content
The Czech National Bank (CNB) says it has issued the country’s first six authorisations for crypto-asset service providers under the EU’s MiCA framework, marking the moment the regime starts turning from policy into actual approvals. The CNB says the milestone comes amid a heavy pipeline: 248 applications have been submitted so far, with many arriving close to the deadline.
CNB rolls out MiCA — But alicence isn’t a safety stamp
MiCA licensing in the Czech Republic has been administered by the CNB since 15 February 2025, and the regulator stresses that authorisation means a firm comes under ongoing supervision. It also draws a line around what a licence isn’t: approval under MiCA does not mean the CNB considers any specific crypto investment “safe.”
A big practical detail for the market is the transitional period mechanics. The CNB says firms that wanted to rely on the transitional regime needed to apply by the end of July 2025. From August 2025, only legal entities (not natural persons) can provide services that fall under MiCA. Applicants who filed on time can continue operating while their file is assessed — but only until the CNB makes a decision and no later than 1 July 2026.
The CNB also notes it has used AI tools tested within its CNB Lab to support document review — for example, spotting inconsistencies or missing information — while keeping decision-making with CNB experts.
Why it matters for crypto
- MiCA is now “real” in Europe, not theoretical. The first approvals set expectations for how licensing and supervision will work in practice.
- Backlogs can become a competitive filter. With 248 applicants and a hard transitional cutoff (no later than 1 July 2026), slower approvals can translate into real business risk.
- Structure matters: legal entities only. The CNB’s August 2025 line means operating models that relied on individuals are out of scope for MiCA-era service provision.
- Regulators are scaling with tooling. CNB’s mention of AI-assisted review is a signal that supervision is professionalizing to handle volume without reducing scrutiny.
What to watch next
- Who the first six are. The CNB says names will be published once the decisions are final in its regulated entities list.
- The next wave of approvals (and rejections). The cadence of decisions will show how quickly the backlog clears — and how strict the process is.
- The transitional cliff: 1 July 2026. Firms still pending by then may face forced changes if they can’t continue operating under the transitional regime.
- CNB guidance on common deficiencies. If the regulator starts publishing recurring issues, it will effectively become a playbook for applicants.