FAU Authorisation for the Provision of Crypto-Asset Services Not Regulated by MiCA

New Authorisation Procedure

An amendment to Act No. 253/2008 Coll. (AML Act) introduces a new type of authorisation procedure before the Financial Analytical Office (FAU). This change primarily affects providers of services involving NFTs (non-fungible tokens) and other forms of virtual assets, if their activities are not subject to licensing under the MiCA Regulation.

Who is now required to apply?

The new authorisation is mandatory for providers of services involving virtual assets who do not fall under regulation by other legal provisions, in particular Regulation MiCA (No. 2023/1114). Those who already hold a CASP authorisation under MiCA may continue their activities without the need to apply for a new authorisation.

Deadlines for Obtaining Authorisation and Applicant Categories

The transitional provisions distinguish between two categories of applicants:

1. New providers of virtual asset services (trade licence no. 81 registered after 30 December 2024):

The FAU authorisation decision must be issued within 120 days. Once the amendment enters into force, virtual asset services can no longer be provided solely on the basis of the Trade Licensing Act.

2. Existing providers of virtual asset services (trade licence no. 81 registered before 30 December 2024):

The application must be submitted no later than 31 July 2025. The FAU has up to 300 days to issue a decision. During this period, you may continue your activities based on your existing trade licence.

Content Requirements of the Application and Security Deposit

The content requirements of the application are set out in the AML Act and Implementing Decree No. 33/2025 Coll. The mandatory annexes and information include in particular:

• details on the scope of activity in the area of virtual asset service provision,
• documents proving reliability and absence of outstanding debts,
• internal policy framework,
• description of the technological and organisational means used to provide the services, including security measures for the protection of client assets,
• the applicant’s business plan, including information on the services to be provided.

The applicant is also required to deposit a security of CZK 250,000 into a special FAU account no later than on the day the application is submitted. The payment must be credited to the account — merely sending it is not sufficient; otherwise, the proceedings may be discontinued.

Summary

The amendment to the AML Act introduces a new regulatory framework for providers of virtual asset services that are not covered by the MiCA Regulation. It sets out the conditions for their operations and establishes an obligation to obtain a special authorisation. Entities already providing virtual asset services are allowed to continue their activities, provided they submit their application in time.

Our law firm will be happy to assist you with the preparation of the application and the entire procedure. We ensure a smooth process without unnecessary delays.

For more information, contact us at info@stuchlikova.com and schedule an initial consultation with our specialists.