Crypto License in Bulgaria

This direction belongs to those few EU member states where conducting commercial activity in crypto is cheap and cost-effective. This country has low taxes, is an EU member, and allows for fast incorporation of companies. For these reasons, both new entrants and well-established players are welcomed to apply for a crypto license in Bulgaria.

By 2025 Bulgaria is transitioning from the former NRA VASP registration regime to MiCA CASP authorisation. Simple notification with the NRA applies no more. Instead, one has to get a Bulgaria cryptocurrency license either from the Financial Supervision Commission (FSC) or the Bulgarian National Bank (BNB), based on service typology.

Previously, firms filed applications to the register with the NRA as VASPs (Virtual Asset Service Providers). Supervision was predominantly directed at AML/CTF measures.

Now, firms are required to receive CASP authorization under MiCA. Dominant supervision shifts to:

• FSC → for exchange, brokerage, custody, and other crypto-asset related services.
• BNB → for stablecoins (EMTs/ARTs) and payment-related cryptocurrency services.
  

This new Bulgaria crypto licence regulation increases the strength of user defense, adds expectations in IT/cybersecurity, and provides one common EU-wide framework for scaling an exchange license in Bulgaria across borders.

• July 1, 2024 → MiCA takes effect all over the EU.
• December 30, 2024 → All new organisations engaged in this activity must apply directly as CASPs.
• June 30, 2026 → Last date up to which any VASP license in Bulgaria that is existing in NRA registration can re-apply so as to be duly validated under MiCA.

Failure to transition will result in being removed from the official Bulgaria crypto license register.

Bulgaria Crypto License Requirements

In order to get a crypto license Bulgaria, the entity applying has to present:

• Company formation: Local company (LLC/OOD) or branch in Bulgaria.
• Residency and office: Physical presence within Bulgaria.
• Management & governance: Fit and proper directors, compliance officer, AML officer.
• Capital requirements (depending on CASP class, see below).
• Business plan: Detailing cryptocurrency exchange license in Bulgaria, custody, or advisory services.
• AML/KYC practices: User verification process, suspicious transaction reporting.
• IT and cybersecurity framework: Exposure management, wallet (hot/cold) security, incident response plan.
• Internal reporting: transaction monitoring, compliance reports to FSC/BNB.

CASP License Classes in Bulgaria

MiCA introduces several different levels of Bulgaria license crypto depending on service scope:

Class 1 – Advisory & Brokerage (€50,000 minimum capital)

• Portfolio advisory for crypto-assets
• Order handling and facilitating client transactions
• Marketing and allocation of digital tokens

Class 2 – Exchange and asset safeguarding (€125,000 minimum capital)

• Operating a Bulgaria crypto exchange (crypto-fiat, crypto-crypto)
• Custody and safekeeping of virtual currency
• Token swap platforms and brokerage services

Class 3 – Full CASP (€150,000 minimum capital)

• All Class 1 and 2 activities
• Administration of stablecoins and other e-money tokens (EMT)
• Crypto-asset holding with client access

Advantages of a Bulgaria Crypto Exchange License

• EU market access rights → operate across all 27 EU participants with one authorization.
• Lowest EU charge regime → 10% corporate income levy, 10% income levy, 5% dividends tax.
• Quick company formation → open a Bulgaria LLC with just €1 min share capital.
• Business trustworthiness → FSC/BNB supervision gives stronger standing with banks and investors.
• Crypto-welcoming environment → Bulgaria supports blockchain, AI and fintech growth via Digital Bulgaria 2025.

CASP Registration Filing Process

• Company establishment: Bulgarian LLC (OOD) or branch registration, including setting up a local bank account for capital deposit.
• Corporate documents: AML/KYC policies, IT security policy documents, risk management framework.
• Commercial plan: Business plan, financial forecasts, compliance personnel.
• Proof of capital: Mandatory equity funds (depending on class of CASP).
• Submission: To FSC (crypto exchange, custody, brokerage) or BNB (stablecoins/payment tokens).
• Review period: 60 business days under MiCA.
• Authorization: Entry into the Bulgaria crypto license register with cross-border provision of authorised CASP services across the EU.

Summary

The change from VASPs to CASPs modernizes Bulgaria’s crypto license regulation. It raises the bar on requirements (capital, governance, IT security) in return for EU-level authorization and passporting for such activities, custodians, and issuers.

This region has low taxes, cheap business costs, and an excellent EU location. When getting a Bulgaria exchange license, companies become locally compliant while gaining access to the whole European market.

All current VASPs have until June 30, 2026, to reapply as CASPs or else they will be struck off from the crypto license Bulgaria register.
In sum, if you plan a Bulgaria crypto exchange or related CASP service, set up governance, IT, and AML/KYC structures from the start — and secure your Bulgaria Crypto License while the transition window is open.