Navigating Regulatory Changes: Understanding the Re-Registration Process for Crypto Exchanges in Bulgaria

In recent years, the cryptocurrency market has experienced rapid growth, leading to increased regulatory scrutiny worldwide. Bulgaria is no exception, with recent amendments to the Anti-Money Laundering Act (AML) and related regulations impacting companies operating within the cryptocurrency sphere. One significant change is the requirement for companies already registered as virtual currencies exchange service providers…

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Innovation Unveiled: Bulgaria’s bold leap with Variable capital company

On 2 August 2023, the Bulgarian legal landscape was dramatically invigorated with the most significant transformation in Commercial Law over the past three decades, as announced in the State Gazette. This transformative act heralds the inauguration of a variable capital company (VCC), a pioneering and avant-garde form of corporate entity. This groundbreaking initiative is tailored…

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Crypto regulations in Bulgaria

The founder of the theory of natural selection Charles Darwin said: “It is not the strongest or the smartest who survive, but those who adapt best to change.” Although the above thought applies to evolution, the same principle can be applied to almost all areas of development, with cryptocurrencies being no exception. The world of…

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Tokens: what one should know

We are witnessing one of the largest economic transformations in human history from paper-based analog assets to digital ones. It is amazing that nowadays anyone across the globe can possess a digital value that may represent many types of real-life assets or may give access to rights in a global context. Thanks to tokens this is…

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ICO – what is it?

What is an Initial Coin Offering (ICO) The ICO usually starts with the publishing of white paper. The latter elaborates on how a crypto token technology works and what the tokens would be used for. The white paper also specifies the services or the product which is to be funded. For the distribution of the…

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Crypto currencies – legal nature in Bulgaria

Crypto currencies are a modern phenomenon that enjoys increasing popularity. It is undoubtedly due to the most famous of them – the “Bitcoin”. This article will focus in brief on the clarification of the nature of the crypto currencies as well as it will make a comparison between them and the fiat currencies under Bulgarian…

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Progressive lawyers is very excited to be in this industry. If you need any assistance just give us a call or send us an e-mail. We would be happy to brain-storm together at any time.

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