Crypto licences leave investors exposed to losses and fraud
Five crypto-service applications have reached the Czech National Bank (CNB) since the MiCA transition ended on July 1, 2026. In its October 19 update, the CNB reported 11 authorised domestic providers and warned that investor risks remain.
Five applications after the deadline
Two of the five applications repeat earlier submissions; proceedings remain open.
Providers authorised elsewhere in the EU may also serve Czech clients.
Board member Jan Procházka said the CNB is inspecting authorised firms and pursuing unauthorised operators, using artificial intelligence and public reports.
It ordered firms operating without authorisation after the deadline to stop immediately.
Four crypto-asset white papers under MiCA Title II were notified to the European Securities and Markets Authority (ESMA) and published in its register.
Two electronic-money institution applicants plan to issue e-money tokens.
The CNB has supervised issuers for almost two years.
Spokesperson Petra Vlčková issued the release.
Authorisation offers no loss guarantee
MiCA requires suitability checks only for advice or portfolio management; just two of the 11 domestic providers offer advice.
No guarantee fund covers losses from poor asset segregation or safeguarding.
Cyberattacks, technology failures, transaction errors and lost keys can cause irreversible losses.
Providers must use employees, not external intermediaries or tied agents.
The CNB flags empty tokens, long staking lock-ups, referral schemes, unexplained loans, gambling links, false authorisation claims and copied brands, including altered .
cz and .
com domains.
Check the provider first
The CNB urges clients to verify providers against its registers and invest only money they can afford to lose.
Its website lists 12 rules for crypto investors as fraud increasingly targets vulnerable groups.
Suspected fraud or money laundering goes to the Police of the Czech Republic and the Financial Analytical Office.