Bulgaria can become a European crypto hub because it has the necessary legal framework. The Crypto Asset Markets Act is now a fact and the licensing procedures are open.
Crypto companies can receive a MiKA license as crypto asset service providers in the next few months.
This was stated during a side event by lawyer Desislava Spasova, co-founder of "Crypto Academy", a lawyer and specialist in commercial law and the European and Bulgarian legal frameworks regulating activities related to crypto assets.
The Crypto Academy, together with the GO 28 Exchange and the UNWE, organized a side event on the topic of Bulgaria - the European Crypto Hub, which was held at "Sofia Tech Park".
According to Spasova, our country also has a favorable political environment: Bulgarian governments have always shown a “friendly” attitude towards the crypto sector. This is also visible in the attitude of regulators.
Bulgaria is among the countries with some of the lowest tax rates, said Marina Muchakova, co-founder of the Crypto Academy and a specialist on the subject of taxation of crypto assets, at the event. This can attract foreign companies and investments, because they will work legally in our country, in the EU, and benefit from low taxes. Regulation of the crypto market reduces risks and inspires confidence in business partners and clients, Muchakova emphasized.
In addition, Nikolay Hadzhiyski, co-founder of the "Crypto Academy" and a lawyer specializing in the legal aspects of crypto assets and measures to prevent money laundering, explained that Bulgaria offers access to highly qualified specialists. The academic community is among the pioneers in the development of the new science of cryptoeconomics. Through its proactive behavior, expressed in the new master's, bachelor's and doctoral programs, the UNWE plays an important role in building Bulgaria as the new crypto hub of Europe.