Slovenia

Retail_Trading_Status

Allowed-Regulated High Confidence

Analysis ID: #786
Version: Latest
Created: 2025-12-12 05:14
Run: 0f2e9a17...
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Workflow Stage: Step 1

Executive Summary

Retail cryptocurrency trading is legal and fully regulated in Slovenia. As of late 2025, the country has transitioned to the EU's Markets in Crypto-Assets (MiCA) framework through the national implementation law (ZIUTK), designating the Securities Market Agency (ATVP) as the primary regulator for crypto-asset service providers (CASPs). While a legacy VASP registration regime exists for transitional entities until June 2026, new and fully compliant entities operate under strict licensing, AML/KYC, and consumer protection standards.

Detailed Explanation

Retail cryptocurrency trading is legal and fully regulated in Slovenia. The country's regulatory framework has been modernized and integrated into the European Union's single rulebook with the adoption of the Markets in Crypto-Assets (MiCA) regulation. This transition was formalized nationally by the Law on the Implementation of the Regulation (EU) on Markets in Crypto-Assets (ZIUTK), enacted on November 23, 2024, which designates competent authorities and establishes licensing and supervisory procedures. The primary regulator for crypto-asset service providers (CASPs) and trading platforms is the Securities Market Agency (ATVP), while the Bank of Slovenia oversees issuers of e-money tokens and stablecoins. All entities must comply with strict Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) rules under the Prevention of Money Laundering and Terrorist Financing Act (ZPPDFT-2), with oversight from the Office for Money Laundering Prevention (OMLP). A legacy VASP registration regime, established by ZPPDFT-2 in 2022, remains in effect for transitional entities until June 30, 2026, after which full MiCA compliance is mandatory for all market participants. The regulatory requirements are comprehensive, mandating that all CASPs obtain a formal license, implement rigorous customer due diligence (KYC) procedures, adhere to the Travel Rule for crypto transfers, and maintain a strict separation of client assets as stipulated by MiCA. There are no outright bans on retail trading or holding of cryptocurrencies. However, the stringent capital and operational requirements under MiCA are expected to consolidate the market. From a taxation perspective, a proposed 25% flat tax on crypto capital gains is anticipated to take effect on January 1, 2026, while income from mining is taxed as standard business or personal income. Slovenia is recognized as a crypto-friendly jurisdiction within the EU, owing to its early regulatory adoption and high density of crypto businesses, though the full implementation of MiCA marks a significant step towards a harmonized and secure digital asset market.

Summary Points

I. Regulatory Status
* Retail cryptocurrency trading is legal and fully regulated.
* The country operates under the EU's Markets in Crypto-Assets (MiCA) framework, implemented nationally via the ZIUTK law.
* A transitional period for pre-existing VASPs under a legacy registration regime is in effect until June 30, 2026.

II. Key Regulatory Bodies
* Securities Market Agency (ATVP): The primary regulator for crypto-asset service providers (CASPs) and trading platforms.
* Bank of Slovenia: The regulator for issuers of e-money tokens and stablecoins.
* Office for Money Laundering Prevention (OMLP): Oversees AML/CFT compliance for all obligated entities, including CASPs.

III. Important Legislation
* Law on the Implementation of the Regulation (EU) on Markets in Crypto-Assets (ZIUTK) (Enacted: 2024-11-23)
* Transposes the EU MiCA regulation into Slovenian law.
* Designates the ATVP and Bank of Slovenia as competent authorities.
* Establishes supervision, licensing procedures, and penalties for CASPs.
* Prevention of Money Laundering and Terrorist Financing Act (ZPPDFT-2) (Enacted: 2022-04-05)
* Established the initial VASP registration regime.
* Requires crypto service providers to register with the OMLP and implement strict AML/CFT measures.
* Markets in Crypto-Assets Regulation (MiCA) (Regulation (EU) 2023/1114) (Enacted: 2023-05-31)
* EU-wide framework directly applicable in Slovenia.
* Governs the issuance, public offering, trading, and custody of crypto-assets.

IV. Compliance Requirements
* Mandatory licensing/registration as a VASP (transitional) or CASP (under MiCA).
* Strict AML/KYC compliance under both ZPPDFT-2 and MiCA.
* Implementation of the Travel Rule for crypto transfers.
* Strict separation of client assets required under MiCA rules.

V. Notable Restrictions or Limitations
* No explicit bans on retail trading or holding of cryptocurrencies.
* The stringent capital and operational requirements of MiCA may act as a market barrier for smaller providers.

VI. Recent Developments or Notes
* Transition to the MiCA framework is complete, with a transitional period ending June 30, 2026.
* A proposed 25% flat tax on crypto capital gains is expected to take effect on January 1, 2026.
* Mining income is taxed as standard business or personal income.
* Slovenia is considered one of the more crypto-friendly jurisdictions in the EU due to early regulation and a high density of crypto businesses.

Full Analysis Report

As of December 2025, Slovenia has solidified its status as a regulated jurisdiction for cryptocurrency activities, having fully integrated the European Union's Markets in Crypto-Assets (MiCA) regulation. The national implementing legislation, the Law on the Implementation of the Regulation (EU) on Markets in Crypto-Assets (ZIUTK), entered into force in November 2024. This law explicitly designates the Securities Market Agency (ATVP) as the competent authority for supervising Crypto-Asset Service Providers (CASPs), while the Bank of Slovenia oversees issuers of asset-referenced tokens and e-money tokens.

Retail trading is permitted and widely accessible through licensed platforms. The regulatory framework has shifted from a simple registration system with the Office for Money Laundering Prevention (OMLP) to a comprehensive prudential licensing regime. Entities that were registered as VASPs under the previous AML law (ZPPDFT-2) benefit from a 'grandfathering' clause, allowing them to continue operations until June 30, 2026, provided they apply for full MiCA authorization or wind down. New entrants must obtain full authorization from the ATVP before commencing services.

From a tax perspective, Slovenia is on the verge of a significant shift. Historically, individuals were not taxed on capital gains from crypto trading unless it constituted a professional business activity. However, a new tax proposal is advancing to introduce a flat 25% tax on realized crypto gains (converting to fiat or purchasing goods) effective January 1, 2026. This aims to simplify the tax code and reduce the ambiguity between 'hobby' and 'business' trading.

The banking sector in Slovenia generally processes crypto-related transactions, though institutions remain cautious and strictly adhere to AML/CFT procedures. The implementation of the 'Travel Rule' and stricter KYC norms has increased the compliance burden on users, requiring detailed information for transfers between custodial wallets. Overall, Slovenia offers a stable, transparent, and highly regulated environment for retail crypto investors.

As of December 2025, Slovenia has solidified its status as a regulated jurisdiction for cryptocurrency activities, having fully integrated the European Union's Markets in Crypto-Assets (MiCA) regulation. The national implementing legislation, the Law on the Implementation of the Regulation (EU) on Markets in Crypto-Assets (ZIUTK), entered into force in November 2024. This law explicitly designates the Securities Market Agency (ATVP) as the competent authority for supervising Crypto-Asset Service Providers (CASPs), while the Bank of Slovenia oversees issuers of asset-referenced tokens and e-money tokens.

Retail trading is permitted and widely accessible through licensed platforms. The regulatory framework has shifted from a simple registration system with the Office for Money Laundering Prevention (OMLP) to a comprehensive prudential licensing regime. Entities that were registered as VASPs under the previous AML law (ZPPDFT-2) benefit from a 'grandfathering' clause, allowing them to continue operations until June 30, 2026, provided they apply for full MiCA authorization or wind down. New entrants must obtain full authorization from the ATVP before commencing services.

From a tax perspective, Slovenia is on the verge of a significant shift. Historically, individuals were not taxed on capital gains from crypto trading unless it constituted a professional business activity. However, a new tax proposal is advancing to introduce a flat 25% tax on realized crypto gains (converting to fiat or purchasing goods) effective January 1, 2026. This aims to simplify the tax code and reduce the ambiguity between 'hobby' and 'business' trading.

The banking sector in Slovenia generally processes crypto-related transactions, though institutions remain cautious and strictly adhere to AML/CFT procedures. The implementation of the 'Travel Rule' and stricter KYC norms has increased the compliance burden on users, requiring detailed information for transfers between custodial wallets. Overall, Slovenia offers a stable, transparent, and highly regulated environment for retail crypto investors.

Source Evidence

Primary and secondary sources cited in this analysis

Law on the Implementation of the Regulation (EU) on Markets in Crypto-Assets (ZIUTK) primary (law_text)

2024-11-08

"The law designates the competent authorities for supervision and the issuance of licenses for crypto-asset service providers... These authorities are the Securities Market Agency and the Bank of Slovenia."

List of Virtual Asset Service Providers (VASPs) primary (regulator)

2025-12-01

"36 virtual assets service providers (VASPs) are currently supervised by the Securities Market Agency of the Republic of Slovenia (ATVP)."

Prevention of Money Laundering and Terrorist Financing Act (ZPPDFT-2) primary (law_text)

2022-04-05

"Providers of services of exchange between virtual and fiat currencies... must be entered in the register."

Slovenia Proposes 25% Flat Tax on Crypto secondary (news)

2025-04-18

"Slovenia's Ministry of Finance has proposed a 25% tax on personal profits from crypto asset disposals... If approved, the law will come into effect on January 1, 2026."

MiCA regulation in Slovenia: Licensing and Implementation secondary (analysis)

2025-09-02

"Slovenia cemented those rules into its own Law on the Implementation of MiCA, published 8 November 2024 and effective 23 November 2024."