site.btaWatchdog Issues First License in Bulgaria under Markets in Crypto-Assets Regulation

The Financial Supervision Commission (FSC) issued the first license in Bulgaria under the Markets in Crypto-Assets Regulation (MiCA) to Alaric Securities OOD, the regulator reported on Thursday. This puts Bulgaria among the European Union Member States that are implementing the new European regulatory framework for crypto-assets.

FSC Chair Vasil Golemanski said: "The issuance of the first MiCA license is a strategic breakthrough for the Bulgarian financial market. It is proof that Bulgaria is not simply following European rules but is implementing them with ambition, consistency, and the highest standards."

The FSC described Alaric as an established Bulgarian investment intermediary that is licensed and regulated by the FSC and provides investment services in accordance with European legislation.

The MiCA transition period in Bulgaria will last until July 1. So far, more than 50 Bulgarian companies have expressed interest and intent to apply for a license.

On June 20, 2025, Parliament adopted a bill transposing the EU's MiCA framework into national law. Prior to the adoption of the law, activities related to the acquisition, trading, and payment with virtual currencies (or cryptocurrencies) were not regulated in Bulgaria, except for the purposes of measures against money laundering and terrorist financing, which is why the National Revenue Agency maintained a public register of crypto-companies in Bulgaria, in which over 200 companies were listed. As a result of the new legislation, the FSC took over the regulation of this sector.