Prague, December 10, 2024 – The Chamber of Deputies of the Czech Republic unanimously approved groundbreaking cryptocurrency legislation on Friday, significantly strengthening the country’s position as one of Europe’s leading cryptocurrency industry hubs.
The new legislation grants regulated cryptocurrency companies the right to a bank account and implements the European MiCA regulation in a way that supports further industry development. It also clearly defines the time and value test for cryptocurrency transaction taxation. With this move, the Czech Republic is becoming one of the most crypto-friendly countries in Europe.
"The Czech Republic now has the most comprehensive cryptocurrency infrastructure in Europe. We are the only European country producing world-class hardware wallets, we have our own mining software and hardware, a developed network of Bitcoin ATMs, cryptocurrency exchanges, payment gateways, and trading platforms, and we will be one of the few countries to have our own regulated stablecoin pegged to the national currency," says František Vinopal, Chairman of the Czech Crypto Association.
The unanimous approval across the political spectrum ensures long-term stability and predictability of the regulatory environment. This success is the result of three years of systematic work by the Czech Crypto Association and the local community, which included a series of educational initiatives and roundtable discussions for legislators and government institutions, including the Czech National Bank, the Ministry of Finance, and the Financial Analytical Office.
About the Czech Crypto Association: The Czech Crypto Association (ČKMA) brings together leading Czech companies and experts in the cryptocurrency field. It promotes the values of freedom, openness, and technological progress. The association actively builds a bridge between the cryptocurrency industry, public administration, and the general public to develop a high-quality business and regulatory environment in the Czech Republic.
Media contact:ckma@ckma.cz