Hundreds of MiCA applications and even more mistakes. Who will pass through CNB’s filter?

A large number of entrepreneurs providing crypto services — whether operators of crypto exchanges, trading platforms, crypto portfolio managers, crypto wallet providers, or ordinary consultants focusing, among other things, on crypto — must newly obtain a license from the Czech National Bank (CNB) or other competent authority in the EU to carry out their activities. Without this license, it is not possible to continue business operations.

In July 2025, the CNB registered 232 license applications under the MiCA Regulation. Applicants can expect the first responses and requests to supplement their applications soon. However, according to public statements made by CNB Board Member Jan Procházka, a large portion of these applications are of low quality and often lack essential supporting documents. For this reason, the upcoming requests for additional information are likely to be extensive and complicated.

If a MiCA license application is subsequently rejected, it effectively means a ban on activity for the applicant in question. Although entrepreneurs may reapply, unlike in the first instance, transitional provisions will no longer apply, and during the review of the second application, they will not be allowed to conduct business in the sector.

A well-prepared application is therefore the foundation for the fastest and simplest approval process, and applicants should not underestimate its preparation. However, drafting a high-quality application requires knowledge of regulations and, ideally, experience with licensing proceedings before the CNB. It is therefore advisable to devote proper attention to preparing a MiCA license application.

At Greats, we specialize, among other things, in licensing proceedings under the MiCA Regulation. If you have any questions or need assistance with the licensing process, please do not hesitate to contact us.