---
type: country
domain: crypto-regulation
status: stable
tags: ["crypto-regulation", "europe", "moneyval", "legal"]
aliases: ["BG", "BGR", "България"]
created: 2026-06-01
updated: 2025-12-01
compile_into: ["[[country--bulgaria]]"]
sources:
  - name: "Financial Supervision Commission Bulgaria"
    url: "https://www.fsc.bg"
    type: "official"
---

# 🇧🇬 [[country--bulgaria|Bulgaria]] (BG) — Crypto Regulation

> Bulgaria has a clear regulatory framework for crypto assets aligned with the EU Markets in Crypto-Assets Regulation ([[concept--mica|MiCA]]). The Financial Supervision Commission oversees licensing and compliance for crypto service providers.

## Overview

| Field | Value |
|-------|-------|
| Status | Legal |
| Risk Score | 25/100 (Low Risk) |
| Enforcement Level | Low |
| Region | [[domain--europe|europe]] |
| Currency | [[entity--bgn|BGN]] |
| Adoption Rank | #40 |

## Tax

| Type | Rate |
|------|------|
| VAT on Crypto | No |

The regulator page does not specify detailed tax rates or rules for crypto activities.

## Licensing

| Field | Value |
|-------|-------|
| Required | Yes |
| Regulator | [[entity--fsc|FSC]] / BNB |
| Framework | Markets in Crypto-Assets Regulation (MiCAR) / Crypto-Asset Markets Act (Bulgaria, State Gazette No. 54, in force 8 July 2025) |
| Ease | medium |
| Cost | $20,000 - $100,000 |
| Timeline | 4-10 months |

Licensing is required under MiCA with standard compliance obligations for crypto service providers.

## AML / KYC

| Field | Value |
|-------|-------|
| KYC Required | Yes |
| Travel Rule | Yes |
| FATF Member | No |
| FATF Status | grey_list |

## DeFi

**Status:** regulated

DeFi activities are subject to regulation under the MiCA framework and must comply with AML and licensing requirements.

## Stablecoins

**Status:** regulated

Stablecoins are regulated under MiCAR and the Bulgarian Crypto-Asset Markets Act (in force 8 July 2025). E-Money Tokens (EMTs) — single-currency stablecoins — are supervised by the Bulgarian National Bank (BNB) and issuers must be licensed as a bank or electronic money institution. Asset-Referenced Tokens (ARTs) — multi-asset backed — are supervised by the FSC. Both require 1:1 reserve backing with assets held in segregated accounts. EU-wide rules under MiCAR Title III (ARTs) and Title IV (EMTs) apply.

## NFTs

**Status:** no_rules

No specific NFT regulation

## Mining

| Field | Value |
|-------|-------|
| Legal | Yes |
| Electricity Cost | $0.092/kWh |
| Renewable Energy | 23% |
| Climate | temperate |
| Infrastructure | good |

Mining is legal with moderate electricity costs and a renewable energy share of 23%. Infrastructure supports mining operations reasonably well.

## Geopolitics

| Field | Value |
|-------|-------|
| Stability | stable |
| Sanctions | No |
| Corruption Index | 43/100 |
| Ease of Business | moderate |
| Internet Freedom | free |
| Banking Access | moderate |

## Enforcement

Enforcement has been limited. NRA has focused on AML registration compliance. The government seized significant Bitcoin from criminal operations in prior years.

## CBDC Status: not_applicable

## FAQ

### Is cryptocurrency legal in Bulgaria?

Bulgaria has a clear regulatory framework for crypto assets aligned with the EU Markets in Crypto-Assets Regulation (MiCA). The Financial Supervision Commission oversees licensing and compliance for crypto service providers.

### What is the FATF status of Bulgaria?

Bulgaria is classified by FATF as: grey_list.

### Are VASPs licensed in Bulgaria?

Yes, licensing is required for VASPs.

### What is the AML/KYC regime in Bulgaria?

KYC is mandatory for crypto businesses.

---

*Data source: [Soken Crypto Legal Map](https://soken.dev/crypto-map/). Last reviewed: 2026-06-01.*

**Sources:**
- [Financial Supervision Commission Bulgaria](https://www.fsc.bg)