As for now, there is no formal dedicated regulation in Slovakia of Cryptocurrency, Cryptocurrency services in Slovakia currently operate in an unregulated environment, as they fall outside the oversight of the National Bank of Slovakia (NBS). all entrepreneurs who provide services of crypto currency exchange, storage, and maintenance of cryptocurrencies must register with the Trade Licensing Office.

All cryptocurrency firms are subject to scrutiny and due diligence protocols. Such obligations originate from EU directives, which Slovakia has transposed into domestic legislation and regulations. Anti-money laundering (AML) rules and know-your-customer (KYC) norms apply to the licensing and compliance aspects. Furthermore, regulators can request access to company information.

Key advantages:

• One of the fastest registrations in the EU – about 5-8 weeks
• EU customers can be onboarded effortlessly and without any limitations. For non-EU residents, alongside standard KYC procedures, EIDAS verification methods are utilized to ensure compliance.

Get in touch with us to learn more about becoming a VASP in Slovakia