Global Stablecoin Regulation

Croatia

Last Updated: May 20, 2026

Plasma

Last Updated: May 20, 2026

Croatia allows retail use of stablecoins but they are not legal tender. Supervision is shifting to the EU’s MiCA regime: EMTs (fiat-referenced) and ARTs (asset-referenced) have applied EU-wide since 30 Jun 2024, with the remainder of MiCA in force since 30 Dec 2024; pre-existing CASPs may operate under the Art. 143(3) transitional regime until 1 Jul 2026. Locally, HANFA maintains the AML VASP register/notification (pre-MiCA) and will supervise MiCA authorisations; HNB covers e-money/payment matters. Crypto gains are taxed as capital income (12% capital gains tax on crypto-to-fiat conversions; 2-year hold exemption; €2,500 annual allowance) on disposal. Overall, the framework is permissive but mid-transition, with full CASP licensing clarity expected by mid-2026.

ESMA – MiCA transitional & application dates

ESMA – List of competent authorities under MiCA

+ 3

Legal Status

Legal

Regularity Clarity

5/5

Regime Status

In-Force

Allowed Types

Fiat Referenced

Asset Referenced

Classification

Crypto Asset

E-Money

Under the EU MiCA regime, Croatia classifies stablecoins as e-money tokens (EMTs) and asset-referenced tokens (ARTs). EMTs reference one official currency and are redeemable at par in funds; they may be issued only by credit institutions or e-money institutions and are supervised in Croatia by the HNB (Titles III–IV). ARTs reference another value or a basket (currencies, commodities, or crypto-assets), require MiCA authorisation and reserve/custody/disclosure controls, and are supervised by HANFA as Croatia’s MiCA authority for Titles II, V and VI. Tokens that do not reference assets (often dubbed “algorithmic”) are not EMT/ART and fall under MiCA’s general crypto-asset rules (Title II).

Coinfomania.com

PwC Global Crypto Regulation Report 2025

+ 4

Regulatory Authorities

Croatian Financial Services Supervisory Agency (HANFA)

Croatia’s MiCA national competent authority for Titles II, V and VI. Authorises and supervises crypto-asset service providers (CASPs) and enforces MiCA conduct, governance, disclosure and marketing rules; maintains the MiCA registers (authorised CASPs, notified white papers).

Croatian National Bank (HNB)

National competent authority for MiCA Titles III and IV; responsible for licensing and supervising issuers of e-money tokens (EMTs) and asset-referenced tokens (ARTs) in Croatia. Coordinates with HANFA on systemic-risk oversight for significant token issuers.

Top Issuers

Circle (USDC, EURC)

SGForge (EURCV, USDCV)

AllUnity (EURAU)

Monerium (EURe)

Paxos (USDG, USDP, PYUSD)

Consumer Protection

Reserve Requirements

ARTs: maintain a segregated reserve held with qualified custodians and invested only in highly liquid/low-risk instruments per EBA RTS. EMTs: funds received must be safeguarded and **invested safely in the same currency. Supervision in Croatia falls to HANFA/HNB per MiCA titles.

Auditing

Issuers must mandate an independent audit of the reserve every six months and notify/publish results; ART issuers also publish monthly data on tokens in circulation and reserve value/composition.

Redemption Rights

Under MiCA, which Croatia is implementing, stablecoin holders have a legal right to redeem their tokens at par value on demand. This applies to both EMTs and ARTs, ensuring that holders can exchange their stablecoins for the underlying reference assets at a 1:1 ratio. Issuers must provide clear redemption mechanisms and cannot impose penalties or delays. This right is a core consumer protection measure under MiCA and will be enforced by HANFA.

Recent Developments

Remittance Race

Find the cheapest and fastest way to send money abroad, comparing traditional methods alongside stablecoin options like Plasma.