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Crypto license in Slovakia

Support in the issuance of Sovakia crypto license with a guarantee of a turnkey contract.

Cryptolicense regulation in Slovakia

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Slovakia is a country with a stable economy and a high standard of living. At the moment, the state has a GDP of more than 104 billion dollars, and with the development of the economic sector, this value tends to grow.

The government does not prohibit cryptocurrency activities but applies strict rules to their regulation. Despite this, getting a license for cryptocurrency is a profitable and lucrative investment.

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In addition to strict requirements to regulate cryptocurrency and having a license for this activity, Slovakia allows disclosure of corporate information and works to strengthen security protocols and oversight.

All cryptocurrency businesses are subject to checks and identification. Such requirements have been received from the EU, which Slovakia has implemented in state rules and regulations.

In March 2018, Slovakia passed laws on cryptocurrency. Following these laws, all profits that were derived from cryptocurrency transactions fall under taxation.

It should be emphasized that companies involved in cryptocurrency activities in Slovakia can use various tax incentives.

For example, a 200% discount for R&D projects, in case the project costs can be deducted twice from the tax base. This is due to 70 international agreements, which allow eliminating double taxation. Slovakia provides an opportunity for residents to protect their profits from double taxation in different countries.

Anti-money laundering (AML) laws and KYC regulations apply to regulation and licensing. In addition, all regulators are allowed access to corporate information

Types of cryptolicense in Slovakia

Intermediation of cryptocurrency exchange

This type of license allows the firm to exchange digital currency into fiat and vice versa, as well as crypto into crypto for a fee.

Maintenance and storage of funds on cryptocurrencies

License for companies introducing wallets for cryptocurrency storage, creation of encrypted client keys, as well as their storage.

CRYPTO ACTIVITY AUTHORISATION in Slovakia packages

Choose the best package of services for obtaining a crypto activity license in Slovakia
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ESSENTIAL

Assistance with company formation and obtaining a crypto registration
€ 6500
Set-up fee
€ 0 /month
Maintenance fee
  • Dedicated consultant with the fully provided individual approach
    hint

    accompany with all issues related to the incorporation, Bank account opening, FIU registration process, answering all the questions over the phone/email/WhatsApp and other connection channels

  • Full turnkey company formation assistance
    hint

    remote/by physical presence (set up appointments with the notary, sworn translation of the documents, organization of other legal formalities), state duties and the notary fees are included

  • Company name of your choice
    hint

    verification within the Chamber of Commerce and Industry and the EU Intellectual Property Office.

  • AML/KYC Policy
  • Registration of the activities within the regulator
    hint

    submission of application and registration within Finančná spravodajská jednotka – Financial Intelligence Unit of Slovakia, negotiation with the regulator and full support during the entire process until the registration is accomplished. State duties are included

  • Virtual box
    hint

    local address of registration and contact person services on the monthly basis (according to the subscription fee)

  • Individual AML/KYC Policy
    hint

    preparation of Individual Internal Procedural Rules and Anti-Money Laundering & Compliance Manual to comply with FIU requirements in accordance with the business model of the Client. Provision of recommendations on the further business activities – up to 10 hours

  • Corporate documents
    hint

    full set of apostilled and sworn translated corporate documents (articles and memorandum of association, excerpt from Commerial Register)

  • Corporate account
    hint

    assistance with opening a corporate account under crypto-oriented business B2B and C2B segregated accounts. In case of refusal by the first Financial Institution, we undertake to open a corporate account with another financial institution

  • Handling the communication with Financial Intelligence Unit (FIU)
    hint

    (up to 1 hour per month)

  • Local Board Member/AML Officer
    hint

    with legal or financial background and skills in the compliance area (required by the law for crypto currency exchange and deposit operator) – up to 5 hours per month. Candidate search and employment arrangement is included

Order now

BASIC

Individual procedural rules in accordance with business model + Basic maintenance
€ 9500
Set-up fee
€ 35 /month
Maintenance fee
  • Dedicated consultant with the fully provided individual approach
    hint

    accompany with all issues related to the incorporation, Bank account opening, FIU registration process, answering all the questions over the phone/email/WhatsApp and other connection channels

  • Full turnkey company formation assistance
    hint

    remote/by physical presence (set up appointments with the notary, sworn translation of the documents, organization of other legal formalities), state duties and the notary fees are included

  • Company name of your choice
    hint

    verification within the Chamber of Commerce and Industry and the EU Intellectual Property Office.

  • AML/KYC Policy
  • Registration of the activities within the regulator
    hint

    submission of application and registration within Finančná spravodajská jednotka – Financial Intelligence Unit of Slovakia, negotiation with the regulator and full support during the entire process until the registration is accomplished. State duties are included

  • Virtual box
    hint

    local address of registration and contact person services on the monthly basis (according to the subscription fee)

  • Individual AML/KYC Policy
    hint

    preparation of Individual Internal Procedural Rules and Anti-Money Laundering & Compliance Manual to comply with FIU requirements in accordance with the business model of the Client. Provision of recommendations on the further business activities – up to 10 hours

  • Corporate documents
    hint

    full set of apostilled and sworn translated corporate documents (articles and memorandum of association, excerpt from Commerial Register)

  • Corporate account
    hint

    assistance with opening a corporate account under crypto-oriented business B2B and C2B segregated accounts. In case of refusal by the first Financial Institution, we undertake to open a corporate account with another financial institution

  • Handling the communication with Financial Intelligence Unit (FIU)
    hint

    (up to 1 hour per month)

  • Local Board Member/AML Officer
    hint

    with legal or financial background and skills in the compliance area (required by the law for crypto currency exchange and deposit operator) – up to 5 hours per month. Candidate search and employment arrangement is included

Order now

EXTENDED

Corporate account for operatingactivity and set of corp. documents
€ 11000
Set-up fee
€ 95 /month
Maintenance fee
  • Dedicated consultant with the fully provided individual approach
    hint

    accompany with all issues related to the incorporation, Bank account opening, FIU registration process, answering all the questions over the phone/email/WhatsApp and other connection channels

  • Full turnkey company formation assistance
    hint

    remote/by physical presence (set up appointments with the notary, sworn translation of the documents, organization of other legal formalities), state duties and the notary fees are included

  • Company name of your choice
    hint

    verification within the Chamber of Commerce and Industry and the EU Intellectual Property Office.

  • AML/KYC Policy
  • Registration of the activities within the regulator
    hint

    submission of application and registration within Finančná spravodajská jednotka – Financial Intelligence Unit of Slovakia, negotiation with the regulator and full support during the entire process until the registration is accomplished. State duties are included

  • Virtual box
    hint

    local address of registration and contact person services on the monthly basis (according to the subscription fee)

  • Individual AML/KYC Policy
    hint

    preparation of Individual Internal Procedural Rules and Anti-Money Laundering & Compliance Manual to comply with FIU requirements in accordance with the business model of the Client. Provision of recommendations on the further business activities – up to 10 hours

  • Corporate documents
    hint

    full set of apostilled and sworn translated corporate documents (articles and memorandum of association, excerpt from Commerial Register)

  • Corporate account
    hint

    assistance with opening a corporate account under crypto-oriented business B2B and C2B segregated accounts. In case of refusal by the first Financial Institution, we undertake to open a corporate account with another financial institution

  • Handling the communication with Financial Intelligence Unit (FIU)
    hint

    (up to 1 hour per month)

  • Local Board Member/AML Officer
    hint

    with legal or financial background and skills in the compliance area (required by the law for crypto currency exchange and deposit operator) – up to 5 hours per month. Candidate search and employment arrangement is included

Order now

FULL

Board Member/AML Officer with local residence and official employment + entire maintenance
€ 13000
Set-up fee
€ 1595 /month
Maintenance fee
  • Dedicated consultant with the fully provided individual approach
    hint

    accompany with all issues related to the incorporation, Bank account opening, FIU registration process, answering all the questions over the phone/email/WhatsApp and other connection channels

  • Full turnkey company formation assistance
    hint

    remote/by physical presence (set up appointments with the notary, sworn translation of the documents, organization of other legal formalities), state duties and the notary fees are included

  • Company name of your choice
    hint

    verification within the Chamber of Commerce and Industry and the EU Intellectual Property Office.

  • AML/KYC Policy
  • Registration of the activities within the regulator
    hint

    submission of application and registration within Finančná spravodajská jednotka – Financial Intelligence Unit of Slovakia, negotiation with the regulator and full support during the entire process until the registration is accomplished. State duties are included

  • Virtual box
    hint

    local address of registration and contact person services on the monthly basis (according to the subscription fee)

  • Individual AML/KYC Policy
    hint

    preparation of Individual Internal Procedural Rules and Anti-Money Laundering & Compliance Manual to comply with FIU requirements in accordance with the business model of the Client. Provision of recommendations on the further business activities – up to 10 hours

  • Corporate documents
    hint

    full set of apostilled and sworn translated corporate documents (articles and memorandum of association, excerpt from Commerial Register)

  • Corporate account
    hint

    assistance with opening a corporate account under crypto-oriented business B2B and C2B segregated accounts. In case of refusal by the first Financial Institution, we undertake to open a corporate account with another financial institution

  • Handling the communication with Financial Intelligence Unit (FIU)
    hint

    (up to 1 hour per month)

  • Local Board Member/AML Officer
    hint

    with legal or financial background and skills in the compliance area (required by the law for crypto currency exchange and deposit operator) – up to 5 hours per month. Candidate search and employment arrangement is included

Order now
Alternative solution
Price
Duration
Order now

Process and timeline for obtaining a crypto license in Slovakia

Stage 1

Collecting documents from the client's side to initiate the process

Result
Process
  • 1.Preliminary assessment of the project
  • 2.Collecting KYC and business descriptions
  • 3.Drafting Power of attorney
Stage 2

Registration of Limited Liability Company (S.R.O.) in Slovakia upon documents receipt on hands

clock3 weeks
Result
Process
  • 1.Sworn translation of powers of attorney into Slovakian language
  • 2.Conducting a transaction to establish a company through a notary
  • 3.Entry of the provision in the commercial register
Stage 3

Pre-application works

clock3 weeks
Result
Process
  • 1.Preparation of the AML/KYC polices adapted under the company type of crypto oriented activity
  • 2.Local Director/AML officer candidate search and employment arrangement
  • 3.Training course & Preparation of the candidate and adaptation of his skills to the activities of the company. Reporting guidance to the Slovakian Financial intelligence Unit (FIU)
  • 4.Submitting the application and registration within FIU
  • 5.Leading the Client and conducting negotiations with the regulator and full support during the entire process until the registration is accomplished
Stage 4

Corporate account opening B2B & C2B segregated (for crypto oriented activity) within Financial institution

clock2-3 weeks
Result
Process
  • 1.Collection of corporate documents for opening an account (Registry card, AoA, MoA) - notarized, apostilled with sworn translation into English
  • 2.Conducting preliminary negotiations and leading the Client through the entire process of the corporate account opening
Requirments
Advantages
Additional services
Firms doing business in the cryptocurrency industry must meet the following requirements:
A detailed business plan
5000 € - minimum authorized capital
Apostilled copies of documents of all owners, founders, employees
Owners and directors of the company must have an impeccable reputation and confirm this with an appropriate certificate
Document confirming the place of residence (registration from local authorities or utility bill)
Unique company name (three variants)
Corporate bank account
No citizenship requirements
No restrictions on the movement of capital and income;
No restriction on currency controls;
No restriction on the employment of foreign staff;
High reputation and stability of the political system;
Obtaining a certificate of tax residency;
Tax is 22%, but it can be reduced to 0.5% if an agent scheme is used and the accounting is done properly.
By ordering the service of registering a company and obtaining a license in our company, clients:
save time and budget
minimize to zero the risks and possibility of mistakes
keep confidentiality
can ask for advice at every stage of the process
get a guaranteed result
Requirments
Opportunities
Additional services
Firms doing business in the cryptocurrency industry must meet the following requirements:
A detailed business plan
5000 € - minimum authorized capital
Apostilled copies of documents of all owners, founders, employees
Owners and directors of the company must have an impeccable reputation and confirm this with an appropriate certificate
Document confirming the place of residence (registration from local authorities or utility bill)
Unique company name (three variants)
Corporate bank account
No citizenship requirements
No restrictions on the movement of capital and income;
No restriction on currency controls;
No restriction on the employment of foreign staff;
High reputation and stability of the political system;
Obtaining a certificate of tax residency;
Tax is 22%, but it can be reduced to 0.5% if an agent scheme is used and the accounting is done properly.
By ordering the service of registering a company and obtaining a license in our company, clients:
save time and budget
minimize to zero the risks and possibility of mistakes
keep confidentiality
can ask for advice at every stage of the process
get a guaranteed result
Types of crypto assets in Slovakia
Cryptocurrency assets and tokens can be different and fall into the following categories:
money

Virtual assets (crypto token)

A virtual currency or cryptocurrency denomination token that is used as money, a payment method, or a currency exchange. It is a tradable asset or utility that is in its blockchain and enables the owner to use it for an investment or economic purpose.
wallet

Utility tokens

Service tokens are a virtual currency that is created for business on any platform. As a rule, a service token represents points received for executing company shares and interacting with game currency. It is worth remembering that it is not an investment, but a coin used more as a coupon for product development. Filecon is a prime example. The project received $257 million on sales of its tokens to give users access to the cloud.
money

Investment tokens (Security)

Investment tokens are common securities that conform to a common rule. Records of such securities are not stored in paper form but on a blockchain. Therefore, they are often referred to as digital securities. They were created to simplify the activities of investors and are, in fact, shares in a company. They indicate the right to own and offer the prospect of dividends.
money

Virtual assets (crypto token)

A virtual currency or cryptocurrency denomination token that is used as money, a payment method, or a currency exchange. It is a tradable asset or utility that is in its blockchain and enables the owner to use it for an investment or economic purpose.
wallet

Utility tokens

Service tokens are a virtual currency that is created for business on any platform. As a rule, a service token represents points received for executing company shares and interacting with game currency. It is worth remembering that it is not an investment, but a coin used more as a coupon for product development. Filecon is a prime example. The project received $257 million on sales of its tokens to give users access to the cloud.
money

Investment tokens (Security)

Investment tokens are common securities that conform to a common rule. Records of such securities are not stored in paper form but on a blockchain. Therefore, they are often referred to as digital securities. They were created to simplify the activities of investors and are, in fact, shares in a company. They indicate the right to own and offer the prospect of dividends.
Explore other
Crypto Licences in Europe
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Crypto Licence in Lithuania
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Crypto Licence in Poland
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Crypto Licence in Estonia
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Crypto Licence in Czech
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Crypto Licence in Canada
Other legal support to crypto projects: ICO/STO/NFT etc

TESTIMONIALS

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logo
quotes
Gofaizen & Sherle has successfully implemented all the tasks related to the settlement of legal part (company formation and VASP license application) of our exchange whitebit.com.
Vladimir Nosov
CEO
Whitebit
logo
quotes
Payeer OÜ is grateful to Gofaizen & Sherle team for their professional personalized approach. We were presented with quick results and efficient replies. For us it was easy and pleasantly to work with the specialists of G&S and we hope for fruitful continuous cooperation.
Liubov S
CEO
Payeer OÜ
logo
quotes
Working with Gofaizen & Sherle team was a real pleasure. Their high level of professionalism and expertise made our journey through the process of establishing and licensing of our company really easy and time efficient. G&S is a trusted partner for us in any topics related to FinTech business.
Edward Kost
CEO
VULTURE OÜ
logo
quotes
We are very pleased with the proficiency, expertise and efficiency that the team of Gofaizen & Sherle showed while delivering our project. Their commitment and approach determine the high quality of services they provide. The competence of the legal advisors in the team of G&S made them a trusted long term partner for us.
Bar El
CEO
UAB GetCoins
logo
quotes
Gofaizen & Sherle has proven itself as a reliable business partner and highly qualified legal advisor. Our cooperation with Gofaizen & Sherle on many projects has been professional and effective. Extensive expertise, meeting deadlines, being responsive and attentive to every issue distinguish the Gofaizen & Sherle team from other firms. We look forward to working with Gofaizen & Sherle again in the future.
Nikita Tepikin
Managing Partner
Legal Kornet
logo
quotes
The Manimama OU team would like to thank Gofaizen & Sherle for their professionalism and the quality of the work. Gofaizen & Sherle team has provided us with clear and practical legal advice on various issues including creating of the VASPs in Baltic states and other legal advices. Gofaizen & Sherle's knowledge and expertise base are very deep and they understand the complexities and nuances of many really difficult cases. We strongly recommend their services
Ganna Voievodina
CEO
Manimama OÜ
logo
quotes
At Pilsenga since the very beginning we counted with Gofaizen & Sherle to build our financial institution in 21 days, we started our operations in record time thanks to them, it’s been pleasant to work with them through the rush of building a Financial Institution in record time. They for real understand compliance and crypto businesses!
Victor Romero
CEO
UAB Pilsenga
logo
quotes
Excellent service! The communication is fast and friendly, we are very satisfied with received comprehensive package of services such as legal consulting, full turnkey crypto company formation in Lithuania, assistance in bank account opening for ’’high risk” business, human resources acquisition etc. Highly recommended!
Roman Potemkin
Founder & CEO
TRASTRA
logo
quotes
Gofaizen & Sherle are true professionals, everything related local incorporation, business management and financial licenses I know I can trust getting always 100% service, knowledge and value. Good prices and highly valuable service this what makes them as a solid partner.
Ben Richter
CEO
Ventures X
logo
quotes
Great service and support, and very efficient communication with Maksim and the team. Our company has been successfully created with all the necessary licenses. Highly recommended.
Thomas Zelias
CEO
UAB TalentChain
logo
quotes
Gofaizen & Sherle has successfully implemented all the tasks related to the settlement of legal part (company formation and VASP license application) of our exchange whitebit.com.
Vladimir Nosov
CEO
Whitebit
logo
quotes
Payeer OÜ is grateful to Gofaizen & Sherle team for their professional personalized approach. We were presented with quick results and efficient replies. For us it was easy and pleasantly to work with the specialists of G&S and we hope for fruitful continuous cooperation.
Liubov S
CEO
Payeer OÜ
logo
quotes
Working with Gofaizen & Sherle team was a real pleasure. Their high level of professionalism and expertise made our journey through the process of establishing and licensing of our company really easy and time efficient. G&S is a trusted partner for us in any topics related to FinTech business.
Edward Kost
CEO
VULTURE OÜ
logo
quotes
We are very pleased with the proficiency, expertise and efficiency that the team of Gofaizen & Sherle showed while delivering our project. Their commitment and approach determine the high quality of services they provide. The competence of the legal advisors in the team of G&S made them a trusted long term partner for us.
Bar El
CEO
UAB GetCoins
logo
quotes
Gofaizen & Sherle has proven itself as a reliable business partner and highly qualified legal advisor. Our cooperation with Gofaizen & Sherle on many projects has been professional and effective. Extensive expertise, meeting deadlines, being responsive and attentive to every issue distinguish the Gofaizen & Sherle team from other firms. We look forward to working with Gofaizen & Sherle again in the future.
Nikita Tepikin
Managing Partner
Legal Kornet
logo
quotes
The Manimama OU team would like to thank Gofaizen & Sherle for their professionalism and the quality of the work. Gofaizen & Sherle team has provided us with clear and practical legal advice on various issues including creating of the VASPs in Baltic states and other legal advices. Gofaizen & Sherle's knowledge and expertise base are very deep and they understand the complexities and nuances of many really difficult cases. We strongly recommend their services
Ganna Voievodina
CEO
Manimama OÜ
logo
quotes
At Pilsenga since the very beginning we counted with Gofaizen & Sherle to build our financial institution in 21 days, we started our operations in record time thanks to them, it’s been pleasant to work with them through the rush of building a Financial Institution in record time. They for real understand compliance and crypto businesses!
Victor Romero
CEO
UAB Pilsenga
logo
quotes
Excellent service! The communication is fast and friendly, we are very satisfied with received comprehensive package of services such as legal consulting, full turnkey crypto company formation in Lithuania, assistance in bank account opening for ’’high risk” business, human resources acquisition etc. Highly recommended!
Roman Potemkin
Founder & CEO
TRASTRA
logo
quotes
Gofaizen & Sherle are true professionals, everything related local incorporation, business management and financial licenses I know I can trust getting always 100% service, knowledge and value. Good prices and highly valuable service this what makes them as a solid partner.
Ben Richter
CEO
Ventures X
logo
quotes
Great service and support, and very efficient communication with Maksim and the team. Our company has been successfully created with all the necessary licenses. Highly recommended.
Thomas Zelias
CEO
UAB TalentChain
logo
quotes
Gofaizen & Sherle has successfully implemented all the tasks related to the settlement of legal part (company formation and VASP license application) of our exchange whitebit.com.
Vladimir Nosov
CEO
Whitebit
logo
quotes
Payeer OÜ is grateful to Gofaizen & Sherle team for their professional personalized approach. We were presented with quick results and efficient replies. For us it was easy and pleasantly to work with the specialists of G&S and we hope for fruitful continuous cooperation.
Liubov S
CEO
Payeer OÜ
logo
quotes
Working with Gofaizen & Sherle team was a real pleasure. Their high level of professionalism and expertise made our journey through the process of establishing and licensing of our company really easy and time efficient. G&S is a trusted partner for us in any topics related to FinTech business.
Edward Kost
CEO
VULTURE OÜ
logo
quotes
We are very pleased with the proficiency, expertise and efficiency that the team of Gofaizen & Sherle showed while delivering our project. Their commitment and approach determine the high quality of services they provide. The competence of the legal advisors in the team of G&S made them a trusted long term partner for us.
Bar El
CEO
UAB GetCoins
logo
quotes
Gofaizen & Sherle has proven itself as a reliable business partner and highly qualified legal advisor. Our cooperation with Gofaizen & Sherle on many projects has been professional and effective. Extensive expertise, meeting deadlines, being responsive and attentive to every issue distinguish the Gofaizen & Sherle team from other firms. We look forward to working with Gofaizen & Sherle again in the future.
Nikita Tepikin
Managing Partner
Legal Kornet
logo
quotes
The Manimama OU team would like to thank Gofaizen & Sherle for their professionalism and the quality of the work. Gofaizen & Sherle team has provided us with clear and practical legal advice on various issues including creating of the VASPs in Baltic states and other legal advices. Gofaizen & Sherle's knowledge and expertise base are very deep and they understand the complexities and nuances of many really difficult cases. We strongly recommend their services
Ganna Voievodina
CEO
Manimama OÜ
logo
quotes
At Pilsenga since the very beginning we counted with Gofaizen & Sherle to build our financial institution in 21 days, we started our operations in record time thanks to them, it’s been pleasant to work with them through the rush of building a Financial Institution in record time. They for real understand compliance and crypto businesses!
Victor Romero
CEO
UAB Pilsenga
logo
quotes
Excellent service! The communication is fast and friendly, we are very satisfied with received comprehensive package of services such as legal consulting, full turnkey crypto company formation in Lithuania, assistance in bank account opening for ’’high risk” business, human resources acquisition etc. Highly recommended!
Roman Potemkin
Founder & CEO
TRASTRA
logo
quotes
Gofaizen & Sherle are true professionals, everything related local incorporation, business management and financial licenses I know I can trust getting always 100% service, knowledge and value. Good prices and highly valuable service this what makes them as a solid partner.
Ben Richter
CEO
Ventures X
logo
quotes
Great service and support, and very efficient communication with Maksim and the team. Our company has been successfully created with all the necessary licenses. Highly recommended.
Thomas Zelias
CEO
UAB TalentChain

Virtual Assets

Virtual currency represents an alternative payment form created using encryption algorithms. The use of encryption technology allows cryptocurrencies to function both as an independent currency and as a virtual accounting system.
No rights are usually associated with virtual assets, as they are only intended to be exchanged for officially recognized currencies, other virtual assets, or existing goods, or services.
Virtual currency is established as a financial asset for businesses dealing with cryptocurrency for commercial use in Slovakia. More precisely, in accounting, cryptocurrency is a short-term financial asset, unlike cash. Thus, the loss can't be carried forward to the next period. The assets will be valued at market prices at the time of the transaction.
In addition, the tax to be considered by businesses or individuals is a tax on the production of virtual currency. The resulting cryptocurrency will then be registered at market prices, should it be sold.

Investment tokens

Investment tokens can be called "securities tokens" because they are tied specifically to the supply of such and typically represent companies' stocks or investments in technology companies growth. In various jurisdictions, they are regulated like traditional securities. They are designed to use stocks, bonds, certificates, or other investment assets.
An investment token is a financial asset that represents an investment or ownership of an asset, and may also provide holders with additional privileges, such as the right to vote.
When a user purchases a security token, he automatically becomes a key shareholder, in a situation where the value of the company depends directly on the investment. This process is different from crypto coins, where the price is directly related to demand and trust in the platform.
Many cryptocurrencies were not originally intended as investment instruments. Bitcoin was never designed as a security token, but at the same time, investors have noticed that they receive significant earnings when bitcoin is listed on the exchange.
Ethereum was developed to pay transaction fees on its network. Under these conditions, it is a cryptocurrency. But under conditions of trading on exchanges and its storage (because of dynamic financial growth) is considered Security.
This type of asset is regulated in federal law, and if it is not complied with, the entire operation can be terminated. But, if all established regulatory rules are followed, investment tokens offer the possibility of promising applications and earnings.

Utility tokens

Unlike virtual currency, which has the function of exchanging funds and has a clear value, Utility tokens are non-monetary assets and are similar to a ticket or coupon. Typically, utility tokens are associated with specific blockchain projects or ecosystems.
Types of service tokens:
  • Interchangeable (can be equivalently exchanged for other tokens)
  • Non-exchangeable (allows you to use a unique possession, such as a plot of land)
A platform that issues service tokens can provide a wide range of functions to the owner of the token. Some may provide access to certain services and products developed by the issuer. Others may provide holders with the ability to receive special services or preferential treatment, such as discounts when launching startup products. For example, these products may be software packages as a service platform, rewards, or additional benefits.
What is the difference between Utility tokens and Security tokens?
Service tokens Security tokens
Bound to a specific platform Are an investment
You can buy access to a service or product You can buy a share of the company, shares
A service token can easily be confused with a security token, as it can also go up in value and be used as an investment. Securities, on the other hand, can provide bonuses and discounts from companies in addition to their basic functions.
The main difference: service tokens are primarily used for their intended purpose, while investments are a secondary use. Because they are an advertising tool and do not provide a share of ownership of the company, and therefore are not a direct investment. Service tokens allow you to invest, and the secondary use is their utility.

Two main types of cryptocurrency businesses in Slovakia

LLC (Limited Liability Company) Joint Stock Company
This is the most common type of company for registration in Slovakia Registration of an open joint stock company, if the number of shareholders exceeds 50 members. Shares in the company - registered, bearer securities are not used.
The minimum amount of the authorized capital must be 5000 EUR. The number of founders - at least 50 people, with a minimum contribution from each person not less than 750 EUR. The amount of the authorized capital from 25000 EUR. The entire contribution is divided into shares, which have a certain value.
FAQ
Is cryptocurrency legal in Slovakia?
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Cryptocurrency is a digital means of savings. Virtual currencies are not issued by the central bank and therefore are not considered legal tender. However, legal entities or individuals can use cryptocurrency as a payment instrument that can be transferred, stored, or sold.
Do you need a license for cryptocurrency trading in Slovakia?
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For legal activities, every company engaged in the exchange, storage, and sale of virtual currency must obtain a license.
Is cryptocurrency taxed in Slovakia?
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All businesses that are associated with cryptocurrency are required to register with the tax office. You can choose a yearly period from the date of company registration or coinciding with the standard tax year. This type of profit should be noted in the column "other income".

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Žalgirio g. 88-101, Vilnius, Lithuania
License for operating activity: FIU000407
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