After submission of a request

The procedure is initiated on the first working day following the delivery of the written application in paper form. The applicant is obliged to pay, pursuant to the provisions of Section 42, paragraph 1 of Act No. 747/2004 Coll. on Financial Market Supervision and on Amendments to Certain Acts, as amended, the fee for the act of the National Bank of Slovakia and to submit a copy of the document on payment of the fee to the National Bank of Slovakia in the application.

The National Bank of Slovakia shall confirm its receipt to the requesting entity in writing no later than five working days from the date of receipt of the application.

The National Bank of Slovakia shall assess whether the application is complete within 25 working days of receipt of the application. The completeness of the application shall be assessed by the National Bank of Slovakia by verifying whether all information referred to in Article 62(2) of the MiCA Regulation has been duly submitted within the application.

If the National Bank of Slovakia finds during the assessment that the application is incomplete, it shall invite the applicant to supplement it and set a deadline within which the applicant is to provide all missing information. After the application has been properly supplemented, if the applicant has been invited to do so, the National Bank of Slovakia shall notify the applicant that the application is complete. If, within the above-mentioned period of 25 working days from the receipt of the application, the National Bank of Slovakia assesses that the application is complete, the applicant shall not be invited to supplement it and shall be notified that the application is complete.

The National Bank of Slovakia shall, within 40 working days from the date of receipt of a complete application (i.e. in the case of supplementing the application from the date of delivery of the last information or evidence required by law), assess whether the applicant complies with the relevant provisions of the MiCA Regulation and issue a reasoned decision to grant or refuse to grant a permit for the activity of a crypto-asset service provider. During this period, the National Bank of Slovakia may request the applicant to provide additional necessary information and at the same time suspend the period for a maximum of 20 working days.

The National Bank of Slovakia shall notify the applicant of its decision to grant a license or a decision to refuse to grant a license for the activity of a crypto-asset service provider within five working days from the date of its issuance.