BULGARIA Law and Practice Contributed by: George Chisuse, Ivelin Vassilev, Stephany Valcheva and Daniel Kolev, VC Law
VC Law is a boutique, business-first law firm head- quartered in Sofia, Bulgaria, advising founders, in- vestors and technology-driven companies operating across the EU and internationally. The firm’s block- chain and crypto-assets practice centres on the Mar- kets in Crypto-Assets Regulation (MiCA), offering end-to-end advisory on licensing, compliance frame- works, token classification and regulatory readiness for crypto-asset service providers (CASPs) and issu- ers across the EU. The team of dedicated specialists combines deep regulatory expertise with commercial
acumen, supporting clients through CASP authorisa- tion processes, White Paper preparation, AML/CFT compliance programme design, and ongoing regula- tory obligations under MiCA. VC Law also advises on digital asset structuring, DeFi regulatory positioning, stablecoin frameworks and cross-border service pro- vision. The firm has advised crypto exchanges, token issuers, fintech platforms and investment vehicles on MiCA readiness and EU regulatory strategy since the regulation’s entry into force.
Authors
George Chisuse is a managing partner at VC Law, specialising in blockchain regulation, crypto-asset law, digital finance compliance and end-to-end international corporate structuring. Active in the industry
Stephany Valcheva is an associate at VC Law with a focus on crypto-asset regulation, MiCA compliance, and blockchain-related legal matters. She advises crypto-asset service providers throughout the licensing
since 2017, he advises clients on MiCA authorisation, token classification, White Paper disclosures and the regulation of stablecoins and e-money tokens under EU law. George supports fintech platforms and crypto exchanges with regulatory readiness and licensing, and also advises on DeFi positioning and the interaction between crypto-asset rules and broader financial services frameworks. He holds an LLM in International Business Law from King’s College London.
process, including authorisation strategy, preparation of application materials, and guidance on ongoing regulatory and AML/CFT obligations under the EU and UAE’s VARA framework. Stephany helps early-stage companies on MiCA readiness, EU market entry, and suitable corporate structuring for blockchain-based business models. She supports clients on the regulatory and tax treatment of virtual assets across multiple jurisdictions, helping them understand how their business model may be affected in each market where they operate.
Ivelin Vassilev is a founding partner at VC Law, where he leads the firm’s corporate and investment fund structuring practice. He advises investment funds, crypto-asset ventures, and technology companies
Daniel Kolev is an attorney at VC Law advising on blockchain and crypto- asset matters across multiple regulatory regimes, including the EU MiCA framework and Dubai’s VARA rulebooks for virtual asset service
on entity structuring, capital formation, and governance frameworks across the European Union. He also represents clients in complex commercial litigation, including disputes arising from digital asset transactions and investment arrangements. Ivelin is a member of the Bulgarian Bar Association.
providers. His practice focuses on multi- jurisdictional structuring of crypto-asset businesses, comparative regulatory analysis between EU and Gulf frameworks, and the design of contractual arrangements for digital financial instruments. Daniel conducts due diligence on crypto and fintech targets in the context of investment rounds and acquisitions, identifying regulatory risk and supporting remediation. He advises on the corporate and tax structuring of holding entities and special- purpose vehicles used by blockchain businesses.
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