Summary: Distribution and advice on crypto-assets is not financial intermediation or financial advice. Financial agents and financial advisors could only carry out these activities until 30. 12. 2024, as an unregulated activity over which the NBS does not exercise supervision. The MiCA Regulation, which sets out the rules for the provision of services in the field of crypto-assets, applies from 30. 12. 2024. Crypto-asset services do not fall within the definition of a financial service within the meaning of Act No. 186/2009 Coll. on financial intermediation and financial advice and on amendments and supplements to certain acts, as amended (hereinafter referred to as „Act No. 186/2009 Coll.“). However, a business entity that is a financial agent or financial advisor may also carry out other business activities, since the subject of its activity regulated by Act No. 186/2009 Coll. is not exclusive in nature. The above-mentioned persons could therefore distribute and provide advice on crypto-assets, but only until 30. 12. 2024 and only under the conditions set out in the law (e.g. Act No. 297/2008 Coll. on the protection against legalization of proceeds from crime and on protection against the financing of terrorism and on amendments and supplements to certain laws, if applicable to the activity in question), and in this response. If such a business entity provides crypto-asset services or offers them, it may not present this activity as performing financial intermediation or financial consultancy, or present it in such a way that would give the client or potential client the impression that it is financial intermediation or financial consultancy or that it would give the impression that it is an activity under the supervision of the NBS. From 30. 12. 2024, they may, based on Art. 59 of the MiCA Regulation, crypto-asset services may only be provided by crypto-asset service providers that have been granted a permit by the NBS or the competent authorities, as well as certain types of financial institutions based on compliance with the notification rules pursuant to Article 60 of the MiCA Regulation. Authorizations to perform financial intermediation based on a permit to perform the activities of an independent financial agent or the entry of a subordinate financial agent in the relevant list in the relevant sub-register are not identical to the NBS permit to perform the activities of a crypto-asset service provider. Other entities are not authorized to provide crypto-asset services and the MiCA Regulation does not provide for any exception to this rule that would be applicable, e.g., to financial agents or financial advisors. If a financial agent wants to perform an activity that meets the characteristics of providing crypto-asset services, it is necessary to apply to the NBS for a permit to perform one of the crypto-asset service activities (e.g., „providing advice in the field of crypto-assets“). Submission of an application for a permit to provide crypto-asset services is possible from 30 December 2024, but the pre-licensing dialogue between the applicant and the NBS may begin earlier. The criteria for granting a permit and the framework requirements of the application are regulated by the MiCA Regulation. The details will be regulated by the implementing regulations representing the so-called Level 2 legislation. More detailed information on the legislative process and ongoing public consultations on Level 2 legislation is available on the NBS website.