Czech Cryptocurrency Association slams Justice Ministry for failing to do its job

In accepting a bitcoin donation of almost CZK 1 billion, the state failed to comply with the basic requirements that any entity subject to the European MiCA regulation or the Anti-Money Laundering Act must follow, the Czech Cryptocurrency Association said in a press release. It said the authorities had neglected to take all the precautionary measures required in accepting a donation of any size - such as donor identification, as well as an assessment of the origin of the funds, the motivation of the donor and the potential risk related to crime.