Blockchain currencies, defined in Bulgaria as virtual money, are subject to heightened interest in the implementation of measures against money laundering. Changes in the sub-legislative regulatory framework regarding persons providing services with virtual currencies harmonize anti-money laundering rules with the legal framework and recommendations of the Financial Action Task Force against money laundering.
All subjects engaged in providing services for the exchange between virtual currencies and recognized non-gold-backed currencies, services for transferring or exchanging virtual assets, services for storing virtual assets, and managing such assets should be registered in the public registry of the National Revenue Agency (NRA).
The changes establish the conditions and procedures for registration and deletion in the electronic public registry of the NRA.
This expands the scope of persons who must be entered in the register, in accordance with the law. It also introduces additional documents and information that must be provided upon registration, as well as new procedures and conditions for deleting a person from the register.
The new rules enter into force on 22.03.2024.
