The crypto-asset market has been growing rapidly in recent years, along with the need for clearly defined rules. The European Union has therefore adopted the Markets in Crypto-Assets (MiCA) regulation, which significantly reshapes the regulatory framework for crypto-assets across Member States.

For businesses, this brings not only new obligations but also greater legal certainty in what has so far been a fragmented and less regulated environment.

What does MiCA introduce?

MiCA establishes a harmonized framework for crypto-asset issuers and crypto-asset service providers (CASPs). It regulates market operations, strengthens investor protection, and introduces measures to prevent market abuse.

Entities in scope are now required to obtain authorization from the competent authority in their home Member State and meet defined organizational, capital, and operational requirements. In the Czech Republic, this authority is the Czech National Bank, which began issuing the first authorizations in 2026.

MiCA also enables so-called passporting, allowing firms to provide services across the EU on the basis of a single authorization. While this enhances market credibility, it also increases demands on companies’ governance and readiness.

Impact on businesses

The impact of MiCA is primarily seen in regulation and compliance. Companies dealing with crypto-assets must not only obtain authorization but also implement robust internal control systems, risk management frameworks, and meet capital requirements. Transparency and disclosure obligations are also increasing.

However, the implications extend beyond service providers. Companies that hold, trade, or use crypto-assets in their operations will also be affected. In such cases, proper accounting treatment, valuation, and disclosures in financial statements become critical.

Impact on audit and financial reporting

MiCA also raises the bar for audit practice, particularly in risk identification and the design of audit procedures.

One of the most significant areas remains the valuation of crypto-assets, which is often affected by high market volatility and limited availability of reliable data. This places increased emphasis on verifying valuation methodologies and data sources.

Auditors will focus in particular on:

• the existence and ownership of crypto-assets,
• the security of digital wallets and management of private keys,
• the design and effectiveness of internal controls,
• compliance with regulatory requirements.

How we can help?

The ongoing development of the crypto-asset market, together with increasing regulatory complexity, is driving greater demand for expertise in accounting, tax, and audit.

Properly designed processes, accounting treatment, and internal controls are essential not only for compliance, but also for transparent financial reporting.

Our team supports clients particularly in:

• accounting and tax assessment of crypto-asset transactions,
• implementation of internal processes and control mechanisms,
• navigating regulatory requirements and their practical implications.

If crypto-assets and MiCA are relevant for your business, we would be happy to discuss the specific impacts and help you find the right approach.