The Bulgaria Financial Supervision Commission (FSC) has told companies registered as Virtual Asset Service Providers (VASPs) that they should submit their Markets in Crypto-Assets Regulation (MiCA) authorisation applications by 16 February 2026, ahead of the end of the national transitional period on 1 July 2026. The FSC estimates the review of submitted documentation will take four to five months and warned that any applicant-driven suspension and resumption of statutory deadlines would significantly extend the process and prevent a decision being issued before 1 July 2026. It also noted it has held more than 30 preparatory meetings with potential applicants to clarify regulatory expectations, but will stop preliminary meetings with new companies after 16 February 2026 and focus resources on assessing applications already filed. Firms intending to cease crypto-asset activities by 1 July 2026 must submit an orderly wind-down plan to the FSC by 1 March 2026, including arrangements for settling client relationships. Entities that do not carry out any activity can apply for deregistration from the crypto-assets register under the procedures referenced in the Crypto-Asset Markets Act.

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