12 February 2025
roadmap
croatia
New Croatian regulation on Crypto Asset Service Providers: is Croatia a prime EU hub for crypto services?
With MiCA, the EU has made significant progress in harmonising the regulatory framework for Crypto Asset Service Providers (CASPs). MiCA introduces a comprehensive set of rules designed to enhance transparency, protect consumers and uphold market integrity.
The Croatian MiCA Implementation Act takes a step further by outlining specific requirements for CASPs, including criteria for the management board, governance obligations and information disclosure. Notably, "fit and proper" assessment for CASP leadership is particularly stringent, focusing not only on good reputation but also on demonstrable expertise. This is unsurprising given that crypto still raises eyebrows, with frequent scams fuelling persistent scepticism.
Why Croatia?
Croatia enacted the MiCA Implementation Act ahead of MiCA's enforcement, demonstrating a proactive stance. From the outset, Croatian regulators are well-prepared, offering clarity and support to CASPs, which is essential in the highly regulated crypto space. Beyond the regulatory advantages, Croatia offers significant benefits for crypto services. Lower operational and employment costs make it an attractive option for companies, along with a highly skilled workforce and a growing IT sector. Plus, crypto investment is wildly popular among Croatians, with crypto being accepted at shops, gas stations, hotels and student cafeterias.
With over 1,000 islands and abundant sunshine, Croatia offers a perfect setting for running a crypto business in the EU while enjoying some time on the beach.
authors: Krešimira Krušlin, Dino Rakić
Krešimira
Krušlin*
Partner in cooperation with Schoenherr
croatia