Cryptocurrency exchanges and exchangers are increasingly opening up in the Czech Republic - a financially stable country that is loyal to the blockchain. To work, you need a license issued by the regulator - the National Bank. The permission opens up the way to the virtual currencies issue, to the client wallets opening and settlements with non-fiat money. The Czech license for cryptocurrency is “respectable”, it confirms the issuer’s reliability and transparency. However, the scope of the service provision is strictly controlled and delimited.
Issuers have the right to issue electronic funds if the average monthly issue does not exceed 5,000,000 euros (in monetary terms). The company falls under the PSP-restrictions and the average monthly “barrier” shall be reduced to 3,000,000 Euros, when providing financial payment services. Exchangers are distinguished from payment service providers by issuers' accounts, which are used for EMI-money acceptance in payment for products/services, funds storage, their inter-currency conversion, sale, etc.
SPI licenses are issued for a cryptocurrency business or ICO. They allow you to exchange non-fiat and fiat funds, create merchant solutions and processing centers, open and maintain client accounts. SEMI or EMI-permissions (small or full, respectively) will be required for the electronic money issue. Czech license for cryptocurrency allows you to work in all EU countries, to open offices in them. It is enough to notify the local regulator, without additional permits and bureaucracy.
Czech cryptocurrency exchange license is issued to organizations:
With “Prifinance”, you can register a license for a cryptocurrency exchange without a loss of time and effort. Our consulting company provides legal, consulting, organizational support, we assist with business registration, opening bank accounts, execution of documentation. "Prifinance" is a simple, legal, and low-cost deployment of crypto activities in the Czech Republic and other countries.