The Markets in Crypto-Assets Regulation (MiCA) introduces a unified regulatory framework for crypto-assets across the European Union (EU), promoting legal certainty, investor protection, and market stability. One of the core requirements under MiCA is obtaining a Crypto-Asset Service Provider (CASP) license, mandatory for businesses offering crypto asset services.
This licensing ensures compliance with strict standards on governance, security, and anti-money laundering (AML), enabling licensed CASPs to operate seamlessly across all EU member states. Whether you are an emerging startup or an established operator, obtaining a CASP license is essential to access the EU’s vast and dynamic market for digital assets.
In Slovenia, the Securities Market Agency (Agencija za trg vrednostnih papirjev / ATVP) is the competent authority overseeing CASP licensing under MiCA. Businesses operating or planning to provide crypto-asset services in Slovenia must adhere to local implementation requirements alongside MiCA’s EU-wide provisions.
Our firm has a thorough knowledge of Slovenian law, ensuring that your compliance efforts are efficient and effective.
We can help your business meet compliance requirements and unlock the potential of the EU crypto market!
In Slovenia, the ATVP is the competent authority overseeing CASP licensing under MiCA
Key Numbers about a CASP License in Slovenia
3 mountsaverage term of obtaining CASP license after application submission |
at least severaldirectors in a CASP |
up to €150kamount of the share capital depending from CASP activity |
up to 50%personal income tax (PIT) rate |
22%corporate income tax (CIT) rate |
25%capital gains tax (CGT) rate |
Legal Opinion about a CASP License in Slovenia
Ganna Voievodina
Manimama
|
CEO
“Obtaining a CASP license in Slovenia is essential for businesses offering crypto-asset services. Applicants must meet requirements, including robust AML/CFT compliance, a formal governance structure, and sufficient operational capital. Once licensed, CASPs must adhere to ongoing reporting obligations and maintain compliance with Slovenian and EU regulations. A CASP license enhances credibility and provides access to the EU market under a clear regulatory framework”.
Types of Activities with a CASP License in Slovenia
Providing custody and administration of crypto-assets on behalf of clients
This service means safekeeping or controlling, on behalf of third parties, crypto-assets or the means of access to such crypto-assets, where applicable in the form of private cryptographic keys. Holdings of crypto-assets on behalf of the clients shall be segregated from CASP’s holdings.
Operation of a trading platform for crypto-assets
This service contains of the management of one or more multilateral systems, which brings together or facilitates the bringing together of multiple third-party buying and selling interests for crypto-assets – in the system and in accordance with its rules – in a way that results in a contract, either by exchanging one crypto-asset for another, or a crypto-asset for funds.
Exchange of crypto-assets for funds
This service means the conclusion of purchase or sale contracts concerning crypto-assets with clients for funds by using proprietary capital.
Exchange of crypto-assets for other crypto-assets
This service means the conclusion of purchase or sale contracts concerning crypto-assets with clients for other crypto-assets by using proprietary capital.
Execution of orders for crypto-assets on behalf of clients
This service means concluding agreements to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets on behalf of third parties and includes the conclusion of agreements to sell crypto-assets at the moment of their issuance.
Placing of crypto-assets
This service includes the marketing, on behalf of or for the account of the offeror or of a party related to the offeror, of crypto-assets to purchasers. Before placing the crypto-assets a CASP shall obtain the agreement of the issuers or any third party acting on their behalf.
Reception and transmission of orders for crypto-assets on behalf of clients
This service means the reception from a person of an order to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets and the transmission of that order to a third party for execution.
Providing advice on crypto-assets
This service means offering, giving or agreeing to give personalized recommendations to a third party, either at the third party’s request or on the initiative of the a CASP providing the advice, in respect of one or more transactions relating to crypto-assets, or the use of crypto-asset services.
Providing portfolio management on crypto-assets
This service includes managing portfolios in accordance with mandates given by clients on a discretionary client-by-client basis where such portfolios include one or more crypto-assets.
Providing transfer services for crypto-assets on behalf of clients
This service means transfer, on behalf of a natural or legal person, crypto-assets from one distributed ledger address or account to another. Such service may be provided without virtual currency wallet opened for a CASP’s client.
Benefits of Obtaining a CASP License in Slovenia
Legal compliance and regulatory certainty:
- Operate within the clear legal framework established by the Slovenian authorities and in line with EU’s MiCA regulations.
- Avoid legal risks, fines, and potential bans by ensuring full regulatory compliance.
Simplified corporate structuring and registration:
- Setting up a crypto business in Slovenia is straightforward, with fast company registration and licensing processes.
- Transparent regulatory processes minimize bureaucratic hurdles for foreign businesses entering the market.
Cost-effective workforce and talent pool:
- Slovenia provides access to a skilled workforce in blockchain, fintech, and cybersecurity.
- The cost of hiring local professionals is lower compared to Western Europe, reducing operational expenses.
Attract institutional and retail clients:
- Institutional investors require licensed and regulated partners for compliance reasons.
- Retail users trust regulated platforms over unlicensed ones, leading to higher customer acquisition.
EU-wide passporting under MiCA:
- Slovenian CASPs are able to offer services across the EU without additional licensing.
- This enables companies to expand into 27 EU countries seamlessly.
Customer protection measures:
- Licensed CASPs must adhere to policies that safeguard customer funds and data.
- This helps prevent fraud and builds a long-term loyal client base.
Our Services
STEP 1
Incorporation stage
- Company formation in Slovenia
- Provision of a registered address for 1 year
- Opening corporate bank account and transferring the share capital
- Appointment and employment of a local director
- Detailed company structure documentation
STEP 2
Pre-licensing stage
- Preparation and submission legal and financial documents (non-exhaustive list) according to MiCA
- Review of existing policies and procedures, if the company already has them
STEP 3
Licensing stage
- CASP license application assistance
- Conducting communication with the ATVP during the license process
Our Experts in this Area
Step by Step Description
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Initial setup
- Initiating a preliminary project assessment
- Creating an action plan
- Preparation and filing of the package of documents
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Company registration
- Choosing and verifying the corporate name at the AJPES (Agency of the Republic of Slovenia for Public Legal Records and Related Services) portal
- Preparation of corporate address
- Opening a bank account and depositing share capital
- Carrying out the notarial deed of company registration
- Registering the company with the Slovenian Business Register (AJPES)
- Obtaining the Certificate of incorporation from AJPES, Memorandum and Articles of Association
- Registration for tax purposes
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Obtaining a CASP license
- Preparation of documents according to MICA
- Submission an application to the licensing authority - ATVP
- Reviewing the application to ensure it is complete (if any documents or information are missing, the applicant will be notified and given a specific deadline to provide the necessary additional documentation)
- Assessment of the documents` content submitted (a detailed review to verify that all regulatory requirements are met)
- Requesting of additional details (if applicable)
- Notification of grant or refusal of the CASP license
- Granting or refusal notification to European Securities and Markets Authority (ESMA)
- Publication in ESMA register
Slovenian National Legislation
In Slovenia, the transition period means that applicants may continue to provide services related to the provision of crypto-asset services until July 1, 2025
Regulation:
The realization of MiCAR is regulated by the Zakon o izvajanju Uredbe (EU) o trgih kriptosredstev (Act on the Implementation of the Regulation (EU) on Crypto-asset Markets / ZIUTK) (Official Gazette of the Republic of Slovenia, No. 95/2024), which came into a force on November 23, 2024.
The law appointed competent authorities to supervise and issue licenses to CASPs and issuers of various types of crypto-assets, such as e-money tokens and asset-linked tokens, etc. These authorities are the Securities Market Agency and the Bank of Slovenia (Banka Slovenije), which will also be the single point of contact for cooperation with other EU member states and European supervisory authorities such as the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA). The law also establishes supervisory procedures, the application of supervisory measures and penalties for violations.
Licensing authority:
The competent authority for issuing and withdrawing a CASP authorisation is the Securities Market Agency (ATVP).
Procedure, timelines fees:
Following the full application of MiCA, i.e. after 30 December 2024, the ATVP must assess within 25 working days of receiving an application for authorisation whether all of the required information has been included in the application. At this stage, however, the ATVP will not assess the quality of the information provided. The ATVP may ask the applicant to supplement the application if some or all of the required information is missing. The ATVP will set a deadline for the submission of any missing information. After the submission of missing information, the ATVP will have 40 working days to make a qualitative assessment of the application. During this period, the ATVP has the opportunity to submit additional requests for clarification, but only the first of these requests will suspend the 40 working day assessment period, for a maximum of 20 working days.
Transition period:
Businesses providing crypto-asset services under the Slovenian Act on the prevention of money laundering and terrorist financing (ZPPDFT-2) may continue to provide these services after 30 December 2024 under the same conditions as before, without the application of the MiCA rules, but until July 1, 2025 at the latest, by which time they will need to obtain a licence and comply with all the requirements under MiCA and the Act if they wish to continue to provide these services.
The simplified procedure shall not apply to the service providers that started to provide their services related to crypto-assets until December 30, 2024.
Requirements for Obtaining a CASP License in Slovenia
Capital requirements for a CASP vary depending on what services the company will provide - from €50,000 to €150,000
Physical office requirements
A CASP shall have a registered office in Slovenia where it carries out at least part of their crypto-asset services.
Requirements for key persons
-
Senior managers (directors):
- Number: MICA does not specify a minimum and maximum number of directors. However, MICA states (part 2, article 59) that there shall be at least several directors.
- Residency requirements: At least one director must be an EU resident.
- General requirements: Directories must have a solid reputation, necessary skills, and relevant experience.
- Required documents:
- a clean criminal record
- a detailed CV
- statements on time commitment and past professional conduct
-
Shareholders:
- Number: MICA does not specify a minimum and maximum number of shareholders.
- Residency requirements: There is no restriction.
- General requirements: Shareholders must have a solid reputation, necessary skills, and relevant experience.
- Required documents:
- a clean criminal record
- an ownership structure chart
Capital requirements
Capital requirements vary depending on what services the company will provide:
Class 1: A CASP authorized for the following crypto-asset services:
- execution of orders on behalf of clients
- placing of crypto-assets
- providing transfer services for crypto-assets on behalf of clients
- reception and transmission of orders for crypto-assets on behalf of clients
- providing advice on crypto-assets and/or
- providing portfolio management on crypto-assets
Minimum capital requirements - €50,000.
Class 2: A CASP authorized for any crypto-asset services under Class 1 and:
- providing custody and administration of crypto-assets on behalf of clients
- exchange of crypto-assets for funds and/or
- exchange of crypto-assets for other crypto-assets
Minimum capital requirements - €125,000.
Class 3: A CASP authorized for any crypto-asset services under Class 2 and:
- operation of a trading platform for crypto-assets
Minimum capital requirements - €150,000.
Documentation requirements
There are list of documents that must be submitted with the application:
-
Documents required for all CASPs:
- The articles of association of the applicant CASP
- Identity and proof of good repute, knowledge, skills, experience and of sufficient time commitment of the members of the management body
- Information relating to shareholders or members with qualifying holdings
- A program of operations setting out the types of crypto-asset services that the applicant CASP wishes to provide, including where and how these services are to be marketed
- A description of the applicant CASP’s prudential safeguards (insurance policy)
- A description of the applicant CASP’s governance arrangements and internal control mechanisms
- A description of the applicant CASP’s business continuity plan
- Detection and prevention of money laundering and terrorist financing (full packet of policies)
- Descriptions both in technical and non-technical language of applicant CASP’s IT systems and security arrangements
- A description of the applicant CASP’s procedures to handle complaints from clients
- Documents required in case CASP wishes to offer services in other countries:
- List of EU countries where the company wishes to offer its services
- Documents required for certain services (each of the 10 services requires its own documents):
- Custody and administration policy
- A description of the procedure for the segregation of client’s crypto-assets and fund
- The operating rules of the trading platform and market abuse detection
- Information on the exchange of crypto-assets for funds or other crypto-assets (commercial policy)
- The execution policy
- Information on the provision of advice or portfolio management on crypto-assets
- Information on transfer services
Taxes in Slovenia
The CIT rate of 22% applies to most companies
Corporate Income Tax (CIT)
Companies with their management or statutory seat in Slovenia are considered tax residents and are taxed on their worldwide income. Non-resident companies are taxed solely on income derived from Slovenian sources.
Slovenia imposes a 22% CIT rate on corporate profits.
A CIT return must be submitted on electronic form through the eDavki portal.
Companies engaged in cryptocurrency activities are subject to standard corporate taxation rules. Profits from cryptocurrency transactions are treated as regular income and taxed at the prevailing CIT rate of 22%.
Capital Gains Tax (CGT)
Capital gains are subject to a base tax rate of 25%.
The tax rate on capital gains decreases with the length of the holding period. For example, after holding an asset for five years, the tax rate reduces to 20%, and it continues to decrease the longer the asset is held.
Personal Income Tax (PIT)
Slovenia employs a progressive PIT system with such rates:
- from €0 to €9,210 - 16%
- from €9,210 to €27,089 - 27%
- from €27,089 to €54,178 - 34%
- from €54,178 to €78,016 - 39%
- from €78,016 and above - 50%
Frequently Asked Questions
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What is a CASP license in Slovenia?A CASP license is a regulatory authorization required for companies providing cryptocurrency-related services such as exchanges, custodial services, advisory services, etc. in Slovenia.
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Who issues the CASP license in Slovenia?The Securities Market Agency (ATVP) issues CASP licenses.
-
What services can be provided under a CASP license?
It allows services such as:
- 1) Providing custody and administration of crypto-assets on behalf of clients
- 2) Operation of a trading platform for crypto-assets
- 3) Exchange of crypto-assets for funds
- 4) Exchange of crypto-assets for other crypto-assets
- 5) Execution of orders for crypto-assets on behalf of clients
- 6) Placing of crypto-assets
- 7) Reception and transmission of orders for crypto-assets on behalf of clients
- 8) Providing advice on crypto-assets
- 9) Providing portfolio management on crypto-assets
- 10) Providing transfer services for crypto-assets on behalf of clients
-
What are the key requirements to obtain a CASP license in Slovenia?Companies must meet physical office requirements, requirements for managers and shareholders, minimum capital requirements, documentation requirements.
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Is it mandatory to have a physical office in Slovenia to obtain a CASP license?Yes, a local office in Slovenia is required for regulatory oversight.
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Is there a minimum capital requirement for obtaining a CASP license?Yes, applicants must meet specific financial and operational adequacy standards, but the exact minimum capital depends on the services offered (€50,000, €125,000, €150,000).
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What is the process for applying for a CASP license?The process involves submitting an application to ATVP with detailed documentation on the company structure, management, AML policies, and financial plans, etc.
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How long does it take to obtain a CASP license?The preparation of documents and the review process typically takes several months, depending on the completeness of the application and the authority's workload.
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Can CASPs provide cross-border services in the EU?Yes, once licensed under MiCA, CASPs can offer services across the EU without needing separate licenses in other Member States.
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Why is a CASP license necessary in Slovenia?A CASP license ensures compliance with Slovenian and EU financial regulations under the MiCA Regulation, providing legal security and consumer protection.
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