The Bulgaria Financial Supervision Commission adopted at first reading a draft ordinance setting out the terms and conditions for licensing and conducting activities by issuers of asset-backed tokens and crypto-asset service providers, and published it for public consultation. The Commission also moved forward changes to the insurance-sector registers maintained by the Guarantee Fund, approved amendments to Advance Terrafund REIT’s contracts with third parties, and finalised amendments to its own internal rules. Public feedback on the crypto-asset draft ordinance and its motives is open for 14 days from publication, until 19 February 2026 inclusive. A separate first-reading draft ordinance would amend and supplement Ordinance No. 54 of 30 December 2016 on the registers of the Guarantee Fund for the exchange and protection of information and for the issuance and reporting of compulsory insurances under Article 461, items 1 and 2 of the Insurance Code, with comments due within 30 days of publication, until 9 March 2026 inclusive. On governance, the FSC adopted at second reading draft rules amending the Rules of Structure and Procedure of the Commission and its Administration, with promulgation in the State Gazette forthcoming.

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