Czech President Petr Pavel has signed new legislation providing regulatory clarity for cryptocurrencies in Czechia. This legislation aligns with the EU’s Markets in Crypto-Assets regulations, aiming to foster innovation and simplify tax processes in the sector.

Czechia’s central bank is contemplating allocating 5% of its reserves to Bitcoin, amounting to around 7.3 billion USD. Governor Aleš Michl emphasizes diversification into non-correlated assets like Bitcoin to stabilize prices, showcasing growing acceptance of crypto.