Bulgaria Adopts MiCA‑Style Crypto Licensing

Bulgaria has officially adopted a MiCA-style crypto licensing framework, making it one of the first countries in the European Union to fully implement the Markets in Crypto-Assets (MiCA) regulation. This new legal structure, which came into effect on July 8, 2025, marks a major step for crypto regulation in the region. If you're a crypto business, investor, or policymaker, this change directly affects how digital asset services operate in Bulgaria moving forward.

This article explains what Bulgaria’s new law means, who it impacts, how it compares with MiCA, and what businesses need to prepare.

Overview of the Crypto-Asset Markets Act

What Was Passed

Bulgaria’s parliament approved the Crypto‑asset markets act on June 20, 2025. This law directly aligns with the MiCA regulation adopted by the European Union, but it goes a step further by transposing the entire framework into national law. This means Bulgaria can now independently enforce licensing, monitoring, and penalty measures.

When It Takes Effect

The law became active on July 8, 2025, giving existing crypto service providers one year-until July 1, 2026-to obtain proper licensing and comply with the new rules.

Who Will Oversee the Sector

The Financial Supervision Commission (FSC) will supervise most crypto businesses, known officially as Crypto‑Asset Service Providers (CASPs). The Bulgarian National Bank will take charge of companies that issue e-money tokens and stablecoins.

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What the Licensing Framework Covers

Capital and Internal Controls

The licensing process has several key requirements. Businesses must maintain paid-in capital ranging from €50,000 to €150,000, depending on their risk level and activity type. They must also build secure internal systems, maintain records, and offer segregated wallets for client funds.

Security and Transparency Measures

Companies need to demonstrate strong operational procedures. This includes submitting incident response plans, reporting standards, and protocols to protect users against loss, fraud, or system failure.

Penalties for Non-Compliance

The law includes strict penalties for companies that fail to comply. Fines can reach €15 million or 15% of global turnover. Authorities also have powers to block websites, freeze services, and issue operating bans for CASPs that violate terms.

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Crypto Licensing Requirements in Bulgaria

Why This Move Matters

Boost for Compliance and Innovation

By becoming one of the first countries to fully adopt MiCA-style regulation, Bulgaria positions itself as a competitive destination for crypto startups and international platforms. Already, platforms like Bitget have received VASP (Virtual Asset Service Provider) approval in the country.

Signal to EU Peers

While most EU countries are still rolling out portions of MiCA, Bulgaria’s complete transposition sends a signal of strong regulatory readiness. This could influence countries like Germany, France, and the Netherlands to accelerate their adoption.

Positive for Investors and Users

Licensing gives users greater confidence in the safety of their funds. Regulated CASPs must now follow strict rules on how assets are stored, used, and reported, offering more transparency for investors.

Bulgaria’s Role in the EU Crypto Landscape

Bulgaria’s MiCA Implementation vs Other EU Countries

Educational Implications

For crypto businesses and professionals, this shift highlights the growing need for regulatory understanding. Learning about MiCA and local laws is now as important as mastering blockchain technology itself.

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Final Thoughts

Bulgaria’s adoption of a MiCA-style crypto licensing regime is a landmark moment not just for the country but for the entire EU crypto market. It sets a high standard for regulatory transparency and offers a template for others to follow. For businesses, this is a call to prepare and comply. For investors and users, it’s a positive move toward a safer and more reliable crypto space.