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CASP license in the Czech Republic
CASP is a license that authorizes companies to legally operate with crypto assets in the EU. It allows businesses to offer a range of digital asset services, including cryptocurrency exchange, secure storage, wallet management, and transaction processing on behalf of clients. This license acts as a ‘financial passport’ enabling companies to operate across the EU's single market.
The Czech Republic is loyal to the process of obtaining a CASP license. A high level of legal transparency, an understandable registration procedure and flexible capital requirements at the start of their activities provide entrepreneurs with a reliable basis for entering the EU market.
Contents
What is a CASP license?
CASP (Crypto Asset Services Provider) is a license that companies working in the field of crypto assets receive. The permit confirms the legality of doing business and compliance with anti-money laundering (AML) and terrorist financing (CFT) requirements, as well as ensures the protection of clients' interests and transparency of operations. This FATF (Financial Action Task Force) license is regulated under the MiCA (Markets in Crypto-Assets) regulations.
All companies related to digital assets should receive the CASP status. These services include exchanging cryptocurrencies for fiat or other crypto assets, storing and managing crypto assets on behalf of customers, conducting transactions on behalf of third parties, and participating in the placement or sale of crypto assets. Companies that provide services without a license risk incurring fines and other penalties.
Requirements for companies
The Czech National Bank (CNB) is responsible for issuing licenses under the Law No. 31/2025 "On the Digitalization of the Financial Market" (Act on the Digitalization of the Financial Market).
Requirements for the applicant
- Perfect business reputation of beneficiaries and management.
- Availability of an internal AML/CFT policy that complies with FATF recommendations and EU requirements.
- Proof of income.
- Minimum authorized capital (from 50,000 to 150,000 EUR).
- Must have an office in the Czech Republic.
- Implementation of technical security measures for clients.
- Appoint an AML officer.
- At least one of the directors must be an EU resident.
Types of CASP licenses
- CASP Class 1 - Basic Services. Companies can manage and place crypto assets without a firm commitment to repurchase. It is suitable for small startups that do not manage exchange platforms. The minimum authorized capital is 50,000 EUR. The services include executing orders on behalf of clients; placing crypto assets; providing crypto asset transfer services on behalf of clients; accepting and transferring orders for crypto assets on behalf of clients; advising on crypto assets, as well as managing a portfolio of crypto assets.
- CASP Class 2 - Advanced Services. Holders of this class are competent to store crypto assets or access keys on behalf of clients, exchange them, and perform operations with tokens. The minimum authorized capital is 125,000 EUR. Suitable for crypto exchanges, custodial services, and OTC platforms. Among the services provided are the storage and administration of crypto assets on behalf of clients; the exchange of crypto assets for fiat money, as well as the exchange of crypto assets for other crypto assets.
- CASP Class 3 - Full license. In addition to the above functions from the first two classes, these companies are allowed to manage trading platforms. The minimum authorized capital is 150,000 EUR. Authorized to provide Class 2 services, as well as to operate a trading platform for crypto assets.
Procedure for obtaining a CASP license
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Company registration in the Czech RepublicThe first step is to register a company in the Czech Republic. The most common forms are s.r.o. (analogous to LLC) or a.s. (joint-stock company). Our specialists at Law&Trust will help you choose the best form of the company and register it in your jurisdiction.
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Documents preparationLaw&Trust will help you collect, notarize, and translate the necessary documents to ensure they meet legal requirements.
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Transitional Regime for Existing CompaniesIt is worth adding that there is a transitional regime for existing companies. If the company was operating under a VASP license at the time of December 30, 2024, it can continue to do business until July 1, 2026.
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Submit Documents to CNBEnsure that all required documents are submitted correctly to the Czech National Bank (CNB) for review.
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License Review and ApprovalThe total period for obtaining a license is up to 6 months, provided that the documents are submitted correctly. To reduce the number of repeat inspections, we recommend contacting our lawyers.
Required documents
- Business plan;
- AML/CFT KYC policy and procedures;
- Internal control and risk management system;
- Confirmation of the sources of funds;
- Information about the final beneficiaries and directors;
- Office lease agreement or address confirmation;
- Technical documentation confirming the security measures taken.
Our services
Law&Trust provides comprehensive support at all stages of obtaining a CASP license in the Czech Republic and other jurisdictions. We provide professional advice, help with the selection of the optimal jurisdiction for the specifics of your business, accompany the company registration process and carefully prepare a package of documents.
Our services include:
- Consultations on obtaining a CASP license;
- Company registration in the Czech Republic;
- Preparation of a complete set of documents for the application;
- Support of the submission process and interaction with regulators;
- Selection of necessary staff;
- Ensuring full compliance with regulatory requirements.
If you plan to develop your project in Europe, then you need legal assistance. Our experts will help you find the best solution, accompanying you at every stage from the idea to obtaining a license and successfully starting a business.
