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🇧🇬 Bulgaria

Late 2025 national MiCA law with a clear, published FSC fee schedule but a short grandfathering window.

Crypto (CASP / VASP) E-money (EMI)
Last verified 2026-08-15 Next review 2026-08-29

Data verified: oldest cell 46 days ago (verified 2026-07-02). Individual cells show their own verification date below.

Capital requirement Capital requirement is included with access. Included with access Timeline to authorisation Timeline to authorisation is included with access. Included with access Application cost Application cost is included with access. Included with access Passporting Passporting is included with access. Included with access

Licence type

Electronic Money Institution licence under the Law on Payment Services and Payment Systems (Zakon za platezhnite uslugi i platezhnite sistemi), transposing EMD2; a small/exempt EMI registration tier also exists for issuers below EMD2 activity thresholds

Verified 7 weeks agoSource: BNB / secondary legal summaries: https://www.bnb.bg/?lang=en ; https://bglegalfirm.com/how-to-emi-license-in-bulgaria-regulations/

Regulator

Bulgarian National Bank (BNB) - Balgarska narodna banka

Verified 7 weeks agoSource: BNB: https://www.bnb.bg/?lang=en

Recent changes

Bulgaria adopted the euro on 1 January 2026 at the fixed rate of EUR 1 to BGN 1.95583, with institutional capital converting into euro. PSD3 and the PSR merge payment-institution and EMI authorisation into one payment-institution category able to issue e-money. The final compromise texts remain awaiting formal adoption and Official Journal publication as of 15 August 2026, with an indicative European Parliament plenary on 14 December 2026. After entry into force, Member States have 21 months to transpose and apply PSD3, and the PSR generally applies after 21 months. Existing EMIs may continue for 27 months, with an exceptional further three-month extension.

Verified 2 days agoSource: https://data.consilium.europa.eu/doc/document/ST-8222-2026-INIT/en/pdf ; https://data.consilium.europa.eu/doc/document/ST-8221-2026-INIT/en/pdf ; https://oeil.europarl.europa.eu/oeil/en/procedure-file?reference=2023%2F0209%28COD%29

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Not legal advice. Entries marked placeholder or awaiting verification shouldn't be relied on. Verify with Bulgaria's regulator and qualified local counsel before acting.