On 31 December 2024, the Council of Ministers of Bulgaria introduced the new Bill on Markets in Crypto-Assets (MCA) for approval by the Bulgarian Parliament. The new legislation will supplement the authorisation requirements under Regulation (EU) 2023/1114 on Markets in Crypto-Assets (MiCA) and strengthen the regulatory framework for the public offering of crypto-assets and the provision of crypto-asset services in Bulgaria.

The bill was initially published for public consultations with stakeholders in August 2024. We discuss below the main objectives of this new piece of legislation as well as a few concerns which were subject to debate which might be a source of conflicting interpretations of the new law.