Crypto regulation in Europe just got a major upgrade. The Markets in Crypto-Assets Regulation (MiCA) delivers a single EU-wide rulebook for digital assets, and here in the Czech Republic it’s already reshaping how firms operate.
I’m going to show you why MiCA matters, how you and your team can secure a Crypto-Asset Service Provider (CASP) licence, and what practical steps will keep you ahead of the curve. No legalese overload—just the roadmap you need to thrive.
Overview of MiCA and its applicability in the Czech Republic
MiCA (EU 2023/1114) closed gaps in existing rules by covering digital assets like asset-referenced tokens (ARTs) and e-money tokens (EMTs). Issuer provisions kicked in on 30 June 2024, and the full CASP regime went live on 30 December 2024.
Because MiCA is an EU regulation, it applies here automatically. The Czech National Bank (CNB) enforces it through the Act on the Digitalisation of the Financial Market, so you’re reporting to Brussels and Prague at the same time.
PRO TIP
Don’t wait for the CNB to call—request a meeting now to map out how the Digitisation Act layers on top of MiCA’s standards and avoid surprises down the road.
Licensing requirements for crypto-asset service providers (CASPs)
If you offer trading, custody, payments, portfolio advice, or token issuance, you need CASP authorisation under Article 62 of MiCA. This covers centralised exchanges, custodial wallets, brokers, transfer services, asset-referenced and e-money tokens.
Pre-existing Czech VASPs get an 18-month grace period: file by 31 July 2025 and keep running until the CNB decides—or until 1 July 2026 at the latest.
Your dossier must prove you’re fit, proper and financially sound. Draft a Programme of Activities, show your governance chart with roles for compliance and risk officers, outline AML/KYC and Travel-Rule procedures, and display ICT-architecture and cybersecurity controls. Don’t forget minimum funds—€50 000 for some services, up to €150 000 for custodians—and a White Paper with standardised token disclosures if you’re issuing ARTs or EMTs.
PRO TIP
Build your dossier in modules—governance, risk, ICT, finance—then reuse and tweak each section per service line to slash drafting time and avoid version chaos.
Implementation timeline and key milestones
Timing is everything. Miss a date and you either halt operations or race to catch up. Here’s what you need on your radar:
| Date | Milestone |
| 6 December 2024 | Chamber of Deputies approves the Digitisation Act |
| 30 December 2024 | MiCA’s full CASP regime applies; transition starts for pre-existing VASPs |
| 15 February 2025 | Digitisation Act enters into force; CNB gains MiCA supervisory powers |
| 31 July 2025 | Deadline for existing VASPs to submit CASP licence applications |
| 1 July 2026 | Grandfathering ends; any non-authorised VASPs must stop or get a licence |
PRO TIP
Plug these milestones into your project-management tool with automated reminders and assign owners for each task to prevent last-minute scrambles.
What crypto firms need to know
Operating under MiCA isn’t just about paperwork—it’s a strategic edge if you plan right.
Early regulatory engagement
Schedule pre-application calls with the CNB now. They’ll flag preferred formats for your dossier, fee structures, and expected review timelines.
AML/KYC & Travel-Rule integration
MiCA’s Travel-Rule messaging must mesh with Czech AML/CFT obligations. Patch any gaps so you’re not juggling two rulebooks.
Governance & culture
Appoint a dedicated compliance officer, define clear reporting lines, and lock in conflict-of-interest policies. A strong culture reduces audit fire drills.
Technical resilience
Run quarterly penetration tests, maintain system redundancies, and rehearse business-continuity plans. Show the CNB you mean business.
Capital & insurance
Confirm you’ve got the right funds on deposit, budget for CNB supervisory fees, and secure cold-wallet insurance if you hold client assets.
EU passporting
Once you’re authorised in the Czech Republic, use MiCA’s EU passport to expand services without extra licences across Member States.
Localized white papers
Beyond MiCA’s template, include Czech-specific disclosures on consumer protections, fees and local redemption procedures to boost investor trust.
Penalties & enforcement
MiCA fines run up to 5 % of turnover or €5 million per breach; the CNB can tack on administrative sanctions under the Digitisation Act.
PRO TIP
Create a MiCA playbook—condense these eight areas into a living document, assign champions, and update quarterly to keep pace with new RTS/ITS and CNB guidance.
Practical next steps
You’re set with the what and why—now here’s how to start:
- Gap Analysis: Map your policies, systems and controls against MiCA and the Digitisation Act.
- Dossier Assembly: Draft the Programme of Activities, governance manuals, ICT schematics, AML/KYC rules and financial-resource plans.
- CNB Engagement: Book pre-application meetings, circulate draft questions and nail down dossier formats.
- Team Training: Roll out targeted sessions on MiCA’s reporting duties, breach-notification steps and Travel-Rule messaging.
- Standards Monitoring: Track ESMA’s forthcoming RTS/ITS and CNB bulletins so you never miss a delegated act.
PRO TIP
Use a compliance-management platform that tracks regulatory changes, timestamps document edits, logs training attendance, and reminds you of upcoming deadlines—all in one dashboard.
Streamline MiCA Compliance with CyberUpgrade
Meeting MiCA’s rigorous requirements—from whitepaper filings to ongoing governance and transparency—often means endless manual tracking and audit prep. CyberUpgrade automates your MiCA workflows with prebuilt templates and real-time Slack or Teams prompts, keeping policies, risk assessments, and evidence audit-ready in one central hub.
Beyond MiCA, CyberUpgrade also supports DORA, ISO 27001, and NIS 2 frameworks, letting you “map once, prove many” across multiple regulations. Automated data extraction, vulnerability scans, and KPI dashboards feed each regulator’s portal seamlessly, reducing manual work by up to 80 %.
With fractional CISO services guiding your continuous monitoring and customizable compliance workflows, you’ll secure faster approvals, avoid fines, and adapt as MiCA and related frameworks evolve—turning compliance from a hurdle into a strategic advantage.
Ready to ride the MiCA wave?
MiCA’s rollout in the Czech Republic is your chance to lock in legal certainty and operational resilience, then scale across Europe. Engage early, build rock-solid governance, nail your technical hygiene, and you’ll not only tick the regulator’s boxes—you’ll sprint ahead of competitors in the unified crypto-asset market.
