Czech President signs 'groundbreaking cryptocurrency' bill, paving the way for regulatory clarity

Czech President Petr Pavel signed a landmark cryptocurrency bill into law, preparing the Czech Republic for clear regulation of digital assets, the Czech Republic announced on the 6th (now known as the Czech Republic's Presidential Election Day).
The bill is also in line with broader European Union law.
The Czech Republic's new cryptocurrency bill will become the first European law to come into full force on December 30th.
According to a translated blog post from the Czech Cryptocurrency Association (CKMA), the bill will amend the tax rules for cryptocurrencies.
The bill contains provisions to simplify the rules and implement the MiCA provisions in a manner that supports industry innovation and development. After years of lobbying, CKMA played a key role in the drafting of this bill.
"A proposal that would have been unimaginable a few years ago has now received the consent of all legislators," said CKMA president František Vinopal.
In a statement to Cointelegraph, CKMA said: "The new bill will guarantee cryptocurrency companies the right to access bank accounts once they have passed the licensing procedure. It will also ensure that virtual currency companies have the right to access bank accounts.
"It establishes clear tax rules for cryptocurrency transactions and provides long-term stability and predictability for industry entrepreneurs. Such a change is something the cryptocurrency industry has been calling for for several years."
The Czech bill was passed less than two months after European Union member states received the final guidelines of MiCA.