The Czech Republic officially enacted a new cryptocurrency law that simplifies tax rules and brings the country in line with the European Union’s Markets in Crypto-Assets (MiCA) regulations.
The legislation, signed by President Petr Pavel, aims to support industry growth while introducing clearer compliance measures. Notably, it grants cryptocurrency companies the right to access bank accounts, provided they meet licensing requirements.
Aligning with EU MiCA Rules
The law comes just weeks after EU member states received final guidance on MiCA regulations on December 30. The Czech government’s swift action signals a proactive approach to digital asset governance.
By integrating MiCA rules, the country aims to create a more predictable and transparent environment for crypto businesses operating within its borders. One of the most significant aspects of the new legislation is its provision allowing crypto firms to hold bank accounts.
Historically, many digital asset businesses have struggled to access traditional banking services due to regulatory uncertainty. The new framework offers a structured path for these firms to gain banking support, provided they pass a licensing process.
According to the exchange’s announcement, this move is expected to attract more blockchain-based enterprises to the Czech Republic. In a related development, the Czech National Bank (CNB) has reportedly expressed openness to adding Bitcoin to its foreign reserves.
Institutional Crypto Interest
While no formal decision has been made, the discussion highlights a growing institutional interest in digital assets. If the CNB follows through, it would mark a significant shift in how national banks approach cryptocurrency adoption. With the new law in place, the Czech Republic positions itself as a forward-thinking player in the European crypto market.
By ensuring compliance with EU regulations while also offering new opportunities for industry participants, the country may become an attractive hub for blockchain innovation. As the global regulatory landscape evolves, the Czech approach could serve as a model for other nations looking to balance oversight with economic growth.
Meanwhile, The Commodity Futures Trading Commission (CFTC) recently opened a probe into Super Bowl-related event contracts offered by Crypto.com and Kalshi, raising concerns over their compliance with derivatives regulations amid an expanding market for sports-based trading products.
Additionally, Crypto.com also expanded its services in the United States with the launch of institutional services. The exchange will reportedly operate under the brand Crypto.com Exchange, targeting institutional services. The company currently serves retail users in the US.
This article was written by Jared Kirui at www.financemagnates.com.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments