Cryptocurrency payments in an online store are not just a technical matter. Find out what tax, contractual, and regulatory obligations a Slovak merchant has when accepting Bitcoin.
Shopify, WooCommerce, Magento—all major e-commerce platforms now offer crypto payment integration in just a few clicks. Microsoft, Tesla, and Gucci are actively using them, and according to surveys, crypto customers spend on average twice as much per order as regular shoppers. But for a Slovak entrepreneur, the question isn’t whether crypto payments can be technically implemented. The question is whether it makes sense from a legal and tax perspective. For e-shops and fintech companies, this is a legal, contractual, and compliance issue.
How it works in practice
Between the customer and the merchant, there is usually a payment gateway—a specialized provider that facilitates the transaction. Among the most widely used are BitPay, Coinbase Commerce, CoinGate, and others. In 2025, Shopify, together with Coinbase, launched the Commerce Payments Protocol, an open protocol on the Base blockchain that allows payments in USDC directly through Shopify Payments. WooCommerce and Magento also offer similar integrations via plugins from BitPay or NOWPayments.
From a legal standpoint, there is a key difference between the two models. In one model, the payment gateway receives the customer’s crypto assets, immediately converts them, and pays the merchant in euros. The merchant thus never comes into possession of the crypto assets. In the second model, the crypto assets go directly into the merchant’s wallet, where the merchant manages them and bears the full exchange rate and legal risk. The choice of model has a direct impact on the entrepreneur’s regulatory, tax, and contractual obligations.
Tax implications: a hidden obstacle
Taxes are the main reason why crypto payments in Slovakia remain more of a marketing tool than a payment method actually used. The Income Tax Act treats every crypto asset payment as a sale. If a customer buys Bitcoin, they realize a taxable gain, which they must pay taxes on and also pay health insurance contributions. The total tax burden for a typical transaction thus exceeds approximately 30%.
The situation is just as complicated for merchants. If an e-shop accepts a cryptoasset and does not immediately convert it to euros, every subsequent transaction involving it constitutes a taxable event. The administrative and accounting burden is significant for larger transaction volumes. And starting in 2026, exchanges and wallets will be required to report transactions to tax authorities in the EU, which will significantly narrow the scope for unrecorded crypto transactions.
Contractual documentation: what’s missing almost everywhere
The Terms and Conditions of most e-shops were written for euro payments. When is the exchange rate fixed? According to which source? What happens in case of a delayed or unconfirmed transaction? How are refunds handled if the contract is canceled within 14 days? Answers are usually missing. If the Terms and Conditions do not specify the moment of exchange rate fixation, when the rate drops, the merchant will claim the payment was insufficient, and when it rises, the customer will demand a refund of the difference. Room for dispute arises with every single order.
What the new Civil Code will change
The recodification of the Civil Code represents the biggest change in Slovak private law in over 60 years, with an expected effective date of July 1, 2027. It is crucial for cryptoassets. The current Civil Code was based on typical situations that do not provide adequate categories for digital assets. The draft of the new Civil Code introduces a division of legal objects into tangible and intangible. Cryptoassets should be classified as intangible legal objects, specifically as other property values. Compared to today’s legal uncertainty, this represents a fundamental shift.
There will be several practical implications. The draft of the new Civil Code is still in the legislative process, so the final wording may still change. However, the direction of the recodification itself is already significant for the field of digital assets. For cryptoassets, this could mean a clearer private-law basis for contractual disposition, transfer, and other legal relationships. According to current information, clearer categorization will allow for a more precise determination of when the transfer of ownership of a cryptoasset occurs, which is currently unclear, particularly in transactions via payment gateways. The amendment should pave the way for the use of cryptoassets as the subject of a lien or other security instruments, which is currently hindered by the absence of a clear legal classification.
However, there is no need to wait for the new codification to properly structure contracts. The need to address exchange rates, fulfillment of obligations, complaints, and refunds already exists today. The new Civil Code will provide a firmer foundation, but those who wait for its entry into force risk years without legal protection.
What we recommend to businesses
Clearly define the business model, what type of payment gateway is used, whether the merchant takes possession of crypto-assets, and who actually provides which service in the transaction chain. The entire regulatory and tax regime depends on this. Revise contractual documentation, Terms and Conditions, complaint procedures, and refund policies—these must explicitly address the moment of exchange rate fixation, the source of exchange rate data, the procedure for unconfirmed transactions, and the method of payment refunds. If the model goes beyond simply accepting a payment, it is necessary to verify the MiCA impact, AML obligations, and the entrepreneur’s overall regulatory status. It is not enough to simply know that “we accept Bitcoin.”
Conclusion
Technologically, integrating crypto payments into, for example, Shopify is a matter of a few clicks. However, the legal and tax implications in Slovakia are so complex that without thorough preparation, crypto payments can cause more problems than benefits for both the merchant and the customer. The new Civil Code will provide a clearer framework, but even today, a legal and tax audit is an essential step for anyone working with crypto. The MiCA Regulation, combined with the upcoming new Civil Code, does not create a burden for the crypto space; on the contrary, it creates a framework that gives entities with sound processes a competitive advantage in the form of credibility, legal protection, and access to institutional clients who require a regulated counterparty as a condition for cooperation. For those who want to work with crypto in a long-term and trustworthy manner, a legal audit and review of contractual arrangements are therefore an essential step—not just for the future, but right now.
