Slovakia is on the list of countries that recognized Bitcoin and other cryptocurrencies. However, in 2018, the authorities made their position more rigorous in relation to digital business, and banks, at the initiative of the national regulator (the Slovak National Bank), began to close the accounts of firms related to cryptocurrencies. Restrictive measures are a consequence of the pan-European trend to increase a control over the crypto-field. According to the European Parliament opinion, it is used to finance terrorists, and the turnover of non-fiat currencies is increasingly becoming rigorous, even in countries that directly issue licenses for the cryptocurrencies exchange.
At the same time, non-fiat money is not regulated at all in the Slovak legislation, and their exchange, mining and other operations are not derived from the legal field. The EU member state, together with the European Union, recognizes that cryptocurrency transactions must be controlled and taxed. Slovakia applies the updated European rules to the digital business, according to which:
To deploy a crypto-exchange business aiming for a work in the EU and internationally, it is necessary to register a Slovak company with a "physical" office and staff (this is a European requirement). Analogs of LLC and open joint-stock companies are available to non-residents. The first option is convenient to a small share capital (from 5,000 euros), the possibility of the establishment by physical persons and organizations. Having received registration certificates, it is necessary to fulfill the requirements of European regulators issuing licenses for cryptocurrencies:
"Prifinance" experts will provide organizational and legal assistance in registering a company, preparing a package of documents for a license for cryptocurrencies exchange, and accounts opening. We will select the optimal form, jurisdiction, corporate and tax model, check the documents and help to develop a promising digital business without the law violation.