{"id":62878,"date":"2024-03-22T19:15:34","date_gmt":"2024-03-22T10:15:34","guid":{"rendered":"https:\/\/monolith.law\/cs\/?p=62878"},"modified":"2024-03-30T20:43:36","modified_gmt":"2024-03-30T11:43:36","slug":"cryptoassets-staking","status":"publish","type":"post","link":"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking","title":{"rendered":"Co je staking kryptom\u011bn? Vysv\u011btlen\u00ed probl\u00e9m\u016f z hlediska finan\u010dn\u00ed regulace"},"content":{"rendered":"\n<p>Mnoho lid\u00ed si p\u0159i zisku z kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn) p\u0159edstavuje metodu, kdy si zakoup\u00ed ur\u010ditou kryptom\u011bnu a prodaj\u00ed ji, kdy\u017e jej\u00ed hodnota stoupne. U kryptom\u011bn existuje tak\u00e9 metoda zvan\u00e1 staking, kter\u00e1 umo\u017e\u0148uje z\u00edsk\u00e1vat odm\u011bny p\u0159i dr\u017een\u00ed kryptom\u011bny.<\/p>\n\n\n\n<p>O stakingu kryptom\u011bn nen\u00ed v sou\u010dasn\u00e9 dob\u011b p\u0159\u00edli\u0161 zn\u00e1mo. Nicm\u00e9n\u011b je d\u016fle\u017eit\u00e9 si uv\u011bdomit, \u017ee m\u016f\u017ee podl\u00e9hat regulac\u00edm podle Japonsk\u00e9ho z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi produkty. V tomto \u010dl\u00e1nku proto poskytneme vysv\u011btlen\u00ed stakingu kryptom\u011bn zam\u011b\u0159en\u00e9 na podnikatele a investory, kte\u0159\u00ed uva\u017euj\u00ed o jeho vyu\u017eit\u00ed.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Co_je_staking_kryptomen_virtualnich_men\" title=\"Co je staking kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn)\">Co je staking kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Prehled_podnikani_v_oblasti_stakingu\" title=\"P\u0159ehled podnik\u00e1n\u00ed v oblasti stakingu\">P\u0159ehled podnik\u00e1n\u00ed v oblasti stakingu<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Schema_podnikani_v_oblasti_stakingu\" title=\"Schema podnik\u00e1n\u00ed v oblasti stakingu\">Schema podnik\u00e1n\u00ed v oblasti stakingu<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Nejjednodussi_schema\" title=\"Nejjednodu\u0161\u0161\u00ed sch\u00e9ma\">Nejjednodu\u0161\u0161\u00ed sch\u00e9ma<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Schema_s_vydanim_alternativnich_tokenu\" title=\"Sch\u00e9ma s vyd\u00e1n\u00edm alternativn\u00edch token\u016f\">Sch\u00e9ma s vyd\u00e1n\u00edm alternativn\u00edch token\u016f<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Pravni_regulace_stakingu_kryptomen\" title=\"Pr\u00e1vn\u00ed regulace stakingu kryptom\u011bn\">Pr\u00e1vn\u00ed regulace stakingu kryptom\u011bn<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Pripady_kdy_poskytovatele_stakingu_neuchovavaji_kryptomeny\" title=\"P\u0159\u00edpady, kdy poskytovatel\u00e9 stakingu neuchov\u00e1vaj\u00ed kryptom\u011bny\">P\u0159\u00edpady, kdy poskytovatel\u00e9 stakingu neuchov\u00e1vaj\u00ed kryptom\u011bny<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Pripady_kdy_poskytovatele_stakingu_drzi_kryptomeny\" title=\"P\u0159\u00edpady, kdy poskytovatel\u00e9 stakingu dr\u017e\u00ed kryptom\u011bny\">P\u0159\u00edpady, kdy poskytovatel\u00e9 stakingu dr\u017e\u00ed kryptom\u011bny<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Je_stakingovy_podnik_povazovan_za_uschovu_nebo_za_investici\" title=\"Je stakingov\u00fd podnik pova\u017eov\u00e1n za \u00faschovu nebo za investici?\">Je stakingov\u00fd podnik pova\u017eov\u00e1n za \u00faschovu nebo za investici?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Zaver_Staking_kryptomen_a_jeho_pravni_regulace\" title=\"Z\u00e1v\u011br: Staking kryptom\u011bn a jeho pr\u00e1vn\u00ed regulace\">Z\u00e1v\u011br: Staking kryptom\u011bn a jeho pr\u00e1vn\u00ed regulace<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/cs\/it\/cryptoassets-staking\/#Predstaveni_opatreni_nasi_kancelare\" title=\"P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e\">P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Co_je_staking_kryptomen_virtualnich_men\"><\/span>Co je staking kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2022\/10\/shutterstock_1967561386.jpg\" alt=\"Co je staking kryptom\u011bn\" class=\"wp-image-52471\" \/><\/figure>\n\n\n\n<p>Staking kryptom\u011bn znamen\u00e1 dr\u017een\u00ed kryptom\u011bn a \u00fa\u010dast na s\u00edti blockchainu t\u00fdkaj\u00edc\u00edho se kryptom\u011bn, \u010d\u00edm\u017e lze z\u00edskat odm\u011bny. Pro \u00fa\u010dast na stakingu kryptom\u011bn je nutn\u00e9 vlastnit ur\u010dit\u00e9 mno\u017estv\u00ed kryptom\u011bny. Nap\u0159\u00edklad u Ethereum je pro \u00fa\u010dast na n\u00ed\u017ee popsan\u00e9m PoS (Proof of Stake) vy\u017eadov\u00e1no vlastnictv\u00ed v\u00edce ne\u017e 32 ETH.<\/p>\n\n\n\n<p>Krom\u011b toho, abyste mohli prov\u00e1d\u011bt staking kryptom\u011bn, nesta\u010d\u00ed je pouze dr\u017eet, ale je nutn\u00e9 je vlo\u017eit do s\u00edt\u011b (do staking poolu). Je d\u016fle\u017eit\u00e9 si uv\u011bdomit, \u017ee vlo\u017een\u00e9 kryptom\u011bny jsou uzam\u010deny a nelze s nimi pohybovat.<\/p>\n\n\n\n<p>Pro staking se obvykle pou\u017e\u00edv\u00e1 PoS (Proof of Stake) nebo podobn\u00fd konsenzu\u00e1ln\u00ed (shodovac\u00ed) algoritmus. Zde m\u016f\u017eete z\u00edskat pr\u00e1vo st\u00e1t se valid\u00e1torem (ov\u011b\u0159ovatelem transakc\u00ed) na z\u00e1klad\u011b mno\u017estv\u00ed a doby dr\u017een\u00ed kryptom\u011bny.<\/p>\n\n\n\n<p>U kryptom\u011bn vyu\u017e\u00edvaj\u00edc\u00edch PoS mohou \u00fa\u010dastn\u00edci, kte\u0159\u00ed dr\u017e\u00ed tuto kryptom\u011bnu a \u00fa\u010dastn\u00ed se s\u00edt\u011b, z\u00edskat jako odm\u011bnu nov\u011b vydan\u00e9 kryptom\u011bny. PoS tak\u00e9 podporuje dlouhodob\u00e9 dr\u017eitele kryptom\u011bn, co\u017e m\u016f\u017ee zv\u00fd\u0161it hodnotu aktiv kryptom\u011bny a je vhodn\u00e9 pro udr\u017een\u00ed ekosyst\u00e9mu kryptom\u011bn.<\/p>\n\n\n\n<p>Existuje mnoho r\u016fzn\u00fdch typ\u016f konsenzu\u00e1ln\u00edch algoritm\u016f v z\u00e1vislosti na druhu kryptom\u011bny, ale n\u011bkter\u00e9 z nich \u0159e\u0161\u00ed probl\u00e9my, jako je zbyte\u010dn\u00e1 spot\u0159eba energie, kter\u00e9 byly problematick\u00e9 u t\u011b\u017eby kryptom\u011bn pomoc\u00ed PoW (Proof of Work). O t\u011b\u017eb\u011b kryptom\u011bn pomoc\u00ed PoW se do\u010dtete v\u00edce v tomto \u010dl\u00e1nku.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/cryptoassets-mining\" target=\"_blank\" rel=\"noreferrer noopener\">Jednoduch\u00e9 vysv\u011btlen\u00ed mechanismu t\u011b\u017eby kryptom\u011bn &#8211; Jak\u00e9 jsou dopady a co je t\u0159eba si d\u00e1t pozor po novelizaci z\u00e1kona o depozitn\u00edch certifik\u00e1tech?[ja]<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Prehled_podnikani_v_oblasti_stakingu\"><\/span>P\u0159ehled podnik\u00e1n\u00ed v oblasti stakingu<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Teoreticky je mo\u017en\u00e9, aby jednotlivci prov\u00e1d\u011bli staking kryptom\u011bn sami. Nicm\u00e9n\u011b, v z\u00e1vislosti na typu kryptom\u011bny, m\u016f\u017ee b\u00fdt pro staking vy\u017eadov\u00e1no v\u011bt\u0161\u00ed mno\u017estv\u00ed kryptom\u011bny. Nap\u0159\u00edklad v p\u0159\u00edpad\u011b v\u00fd\u0161e zm\u00edn\u011bn\u00e9ho Ethereum je pot\u0159eba 32 ETH, co\u017e v japonsk\u00fdch jenech odpov\u00edd\u00e1 n\u011bkolika milion\u016fm. M\u016f\u017eeme tedy \u0159\u00edci, \u017ee pro jednotlivce je vstup do sv\u011bta stakingu kryptom\u011bn pom\u011brn\u011b vysok\u00fd. Z tohoto d\u016fvodu existuj\u00ed p\u0159\u00edpady, kdy podnikatel\u00e9 shroma\u017e\u010fuj\u00ed pen\u00edze a tyto prost\u0159edky pou\u017e\u00edvaj\u00ed k provozov\u00e1n\u00ed stakingov\u00e9ho podnik\u00e1n\u00ed.<\/p>\n\n\n\n<p>Jak bylo zm\u00edn\u011bno d\u0159\u00edve, kryptom\u011bny ulo\u017een\u00e9 ve stakingov\u00e9m poolu se stanou nehybn\u00fdmi. V p\u0159\u00edpad\u011b, \u017ee podnikatel provozuje stakingov\u00e9 podnik\u00e1n\u00ed, m\u016f\u017ee vyd\u00e1vat alternativn\u00ed tokeny odpov\u00eddaj\u00edc\u00ed hodnot\u011b ulo\u017een\u00fdch kryptom\u011bn, co\u017e umo\u017e\u0148uje jejich prodej nebo v\u00fdm\u011bnu za jin\u00e9 kryptom\u011bny. Stakingov\u00e9 podnik\u00e1n\u00ed v oblasti kryptom\u011bn se tak\u00e9 li\u0161\u00ed od podnik\u00e1n\u00ed v oblasti t\u011b\u017eby kryptom\u011bn t\u00edm, \u017ee zahrnuje dr\u017een\u00ed kryptom\u011bn podnikatelem nebo jin\u00fdm subjektem.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Schema_podnikani_v_oblasti_stakingu\"><\/span>Schema podnik\u00e1n\u00ed v oblasti stakingu<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2022\/10\/shutterstock_1958242981.jpg\" alt=\"Schema podnik\u00e1n\u00ed v oblasti stakingu\" class=\"wp-image-52472\" \/><\/figure>\n\n\n\n<p>Co se t\u00fd\u010de sch\u00e9matu podnik\u00e1n\u00ed v oblasti stakingu, lze obecn\u011b rozli\u0161it dva hlavn\u00ed typy: nejjednodu\u0161\u0161\u00ed sch\u00e9ma a sch\u00e9ma, kter\u00e9 zahrnuje vyd\u00e1n\u00ed alternativn\u00edch token\u016f. N\u00ed\u017ee vysv\u011btl\u00edme oba typy sch\u00e9mat pro podnik\u00e1n\u00ed v oblasti stakingu.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nejjednodussi_schema\"><\/span>Nejjednodu\u0161\u0161\u00ed sch\u00e9ma<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V r\u00e1mci nejjednodu\u0161\u0161\u00edho sch\u00e9matu nejprve u\u017eivatel\u00e9 vkl\u00e1daj\u00ed kryptom\u011bnu u podnikatele. Pot\u00e9 podnikatel vyu\u017e\u00edv\u00e1 kryptom\u011bnu vlo\u017eenou u\u017eivateli k prov\u00e1d\u011bn\u00ed stakingu. Nakonec podnikatel distribuuje odm\u011bny z\u00edskan\u00e9 ze stakingu u\u017eivatel\u016fm.<\/p>\n\n\n\n<p>Toto sch\u00e9ma p\u0159edstavuje nejjednodu\u0161\u0161\u00ed formu podnik\u00e1n\u00ed v oblasti stakingu.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Schema_s_vydanim_alternativnich_tokenu\"><\/span>Sch\u00e9ma s vyd\u00e1n\u00edm alternativn\u00edch token\u016f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Jak bylo zm\u00edn\u011bno v\u00fd\u0161e, p\u0159i stakingu doch\u00e1z\u00ed k uzam\u010den\u00ed kryptom\u011bny ve stakingov\u00e9m poolu. Toto uzam\u010den\u00ed m\u00e1 nev\u00fdhodu, \u017ee u\u017eivatel\u00e9 nemohou se svou kryptom\u011bnou voln\u011b nakl\u00e1dat. Aby se t\u00e9to nev\u00fdhod\u011b vyhnulo, vyu\u017e\u00edv\u00e1 se sch\u00e9ma s vyd\u00e1n\u00edm alternativn\u00edch token\u016f.<\/p>\n\n\n\n<p>Sch\u00e9ma s vyd\u00e1n\u00edm alternativn\u00edch token\u016f za\u010d\u00edn\u00e1 t\u00edm, \u017ee u\u017eivatel\u00e9 vkl\u00e1daj\u00ed kryptom\u011bnu u podnikatele. Charakteristick\u00fdm rysem tohoto sch\u00e9matu je, \u017ee podnikatel vyd\u00e1v\u00e1 u\u017eivatel\u016fm alternativn\u00ed tokeny.<\/p>\n\n\n\n<p>V ostatn\u00edch aspektech je sch\u00e9ma podobn\u00e9 nejjednodu\u0161\u0161\u00edmu sch\u00e9matu: podnikatel vyu\u017e\u00edv\u00e1 kryptom\u011bnu vlo\u017eenou u\u017eivateli k prov\u00e1d\u011bn\u00ed stakingu a n\u00e1sledn\u011b distribuuje odm\u011bny z\u00edskan\u00e9 ze stakingu u\u017eivatel\u016fm. V p\u0159\u00edpad\u011b sch\u00e9matu s vyd\u00e1n\u00edm alternativn\u00edch token\u016f mohou b\u00fdt tyto tokeny pou\u017eity pro obchodov\u00e1n\u00ed nebo v\u00fdm\u011bnu s jin\u00fdmi kryptom\u011bnami.<\/p>\n\n\n\n<p>T\u00edmto zp\u016fsobem je mo\u017en\u00e9 do ur\u010dit\u00e9 m\u00edry p\u0159ekonat nev\u00fdhodu spojenou s uzam\u010den\u00edm kryptom\u011bny ve stakingov\u00e9m poolu.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pravni_regulace_stakingu_kryptomen\"><\/span>Pr\u00e1vn\u00ed regulace stakingu kryptom\u011bn<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2022\/10\/shutterstock_1214376820.jpg\" alt=\"Pr\u00e1vn\u00ed regulace stakingu\" class=\"wp-image-52473\" \/><\/figure>\n\n\n\n<p>Podnik\u00e1n\u00ed v oblasti stakingu kryptom\u011bn, jak ji\u017e bylo zm\u00edn\u011bno, zahrnuje dr\u017een\u00ed kryptom\u011bn prost\u0159ednictv\u00edm poskytovatel\u016f slu\u017eeb. Proto je t\u0159eba \u0159\u00edci, \u017ee staking kryptom\u011bn m\u00e1 mnoho specifick\u00fdch bod\u016f, kter\u00e9 je t\u0159eba zv\u00e1\u017eit. N\u00ed\u017ee vysv\u011btl\u00edme pr\u00e1vn\u00ed regulace t\u00fdkaj\u00edc\u00ed se stakingu kryptom\u011bn.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/cryptoassets-regulation\" target=\"_blank\" rel=\"noreferrer noopener\">Co jsou to regulace kryptom\u011bn? Vysv\u011btlen\u00ed vztahu mezi z\u00e1konem o platebn\u00edm styku a z\u00e1konem o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi n\u00e1stroji[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pripady_kdy_poskytovatele_stakingu_neuchovavaji_kryptomeny\"><\/span>P\u0159\u00edpady, kdy poskytovatel\u00e9 stakingu neuchov\u00e1vaj\u00ed kryptom\u011bny<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V p\u0159\u00edpadech, kdy poskytovatel\u00e9 stakingu neuchov\u00e1vaj\u00ed kryptom\u011bny (ani jako depozitum, ani jako investici), se m\u016f\u017ee p\u0159edpokl\u00e1dat, \u017ee se st\u00e1vaj\u00ed schvalovateli (deleg\u00e1ty). V takov\u00e9m p\u0159\u00edpad\u011b poskytovatel stakingu neuchov\u00e1v\u00e1 kryptom\u011bny od u\u017eivatel\u016f, a proto se jeho \u010dinnost nepova\u017euje za slu\u017ebu \u00faschovy (custody).<\/p>\n\n\n\n<p>Z tohoto d\u016fvodu poskytovatel stakingu v t\u00e9to situaci nespad\u00e1 pod kategorii poskytovatel\u016f sm\u011bny kryptom\u011bn a nepodl\u00e9h\u00e1 regulac\u00edm podle z\u00e1kona o platebn\u00edm styku. Kdy\u017e poskytovatel stakingu neuchov\u00e1v\u00e1 kryptom\u011bny od u\u017eivatel\u016f, nelze pova\u017eovat, \u017ee by u\u017eivatel\u00e9 do poskytovatele stakingu investovali, a tedy se tak\u00e9 nepova\u017euje za kolektivn\u00ed investi\u010dn\u00ed sch\u00e9ma. V d\u016fsledku toho tak\u00e9 v souvislosti s kolektivn\u00edmi investi\u010dn\u00edmi sch\u00e9maty nepodl\u00e9h\u00e1 regulac\u00edm podle z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi n\u00e1stroji.<\/p>\n\n\n\n<p>Souvisej\u00edc\u00ed \u010dl\u00e1nek: <a href=\"https:\/\/monolith.law\/corporate\/cryptocurrency-custody\" target=\"_blank\" rel=\"noreferrer noopener\">Co je to custody slu\u017eba? Vysv\u011btlen\u00ed regulac\u00ed pro poskytovatele sm\u011bny kryptom\u011bn[ja]<\/a><\/p>\n\n\n\n<p>Jako metoda, kter\u00e1 nen\u00ed ani depozitum, ani investice, se nab\u00edz\u00ed sch\u00e9ma p\u016fj\u010dov\u00e1n\u00ed kryptom\u011bn. Nicm\u00e9n\u011b v praxi je hodnocen\u00ed, zda jde o p\u016fj\u010dku nebo depozitum, slo\u017eit\u00e9 a podle <a href=\"https:\/\/www.fsa.go.jp\/common\/law\/guide\/kaisya\/16.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Sm\u011brnice pro poskytovatele sm\u011bny kryptom\u011bn[ja]<\/a> Japonsk\u00e9 finan\u010dn\u00ed slu\u017eby, pokud je p\u016fj\u010dka pou\u017eita jako zp\u016fsob, jak obej\u00edt z\u00e1kon a ve skute\u010dnosti se jedn\u00e1 o spr\u00e1vu kryptom\u011bn pro jin\u00e9 osoby, je to pova\u017eov\u00e1no za spr\u00e1vu kryptom\u011bn a je vy\u017eadov\u00e1na registrace poskytovatele sm\u011bny kryptom\u011bn.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Pripady_kdy_poskytovatele_stakingu_drzi_kryptomeny\"><\/span>P\u0159\u00edpady, kdy poskytovatel\u00e9 stakingu dr\u017e\u00ed kryptom\u011bny<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>V p\u0159\u00edpadech, kdy poskytovatel\u00e9 stakingu dr\u017e\u00ed kryptom\u011bny od u\u017eivatel\u016f, je stakingov\u00e1 \u010dinnost pova\u017eov\u00e1na za slu\u017ebu \u00faschovy (custody) nebo za kolektivn\u00ed investi\u010dn\u00ed sch\u00e9ma.<\/p>\n\n\n\n<p>Konkr\u00e9tn\u011b, pokud poskytovatel\u00e9 stakingu p\u0159ij\u00edmaj\u00ed kryptom\u011bny od u\u017eivatel\u016f k \u00faschov\u011b, jedn\u00e1 se o slu\u017ebu \u00faschovy. Pokud v\u0161ak poskytovatel\u00e9 stakingu p\u0159ij\u00edmaj\u00ed kryptom\u011bny od u\u017eivatel\u016f jako vklad, jedn\u00e1 se o kolektivn\u00ed investi\u010dn\u00ed sch\u00e9ma.<\/p>\n\n\n\n<p>Je tedy d\u016fle\u017eit\u00e9 rozli\u0161ovat, zda je stakingov\u00e1 \u010dinnost pr\u00e1vn\u011b hodnocena jako \u00faschova nebo jako vklad.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Je_stakingovy_podnik_povazovan_za_uschovu_nebo_za_investici\"><\/span>Je stakingov\u00fd podnik pova\u017eov\u00e1n za \u00faschovu nebo za investici?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Nejprve je t\u0159eba objasnit krit\u00e9ria pro rozli\u0161en\u00ed mezi \u00faschovou a investic\u00ed. Obecn\u011b plat\u00ed, \u017ee rozli\u0161uj\u00edc\u00edm faktorem je existence \u010di neexistence distribuce zisku. To znamen\u00e1, \u017ee pokud nedoch\u00e1z\u00ed k distribuci zisku, jedn\u00e1 se o \u00faschovu, zat\u00edmco v p\u0159\u00edpad\u011b distribuce zisku se jedn\u00e1 o investici.<\/p>\n\n\n\n<p>Nap\u0159\u00edklad v p\u0159\u00edpad\u011b, kdy stakingov\u00fd poskytovatel m\u00e1 povinnost vr\u00e1tit v\u0161echna kryptom\u011bnov\u00e1 aktiva ulo\u017een\u00e1 u\u017eivatelem a z\u00e1rove\u0148 p\u0159ij\u00edm\u00e1 odm\u011bnu, kter\u00e1 nen\u00ed spojena s v\u00fdnosy, m\u016f\u017ee b\u00fdt tento p\u0159\u00edpad pova\u017eov\u00e1n za \u00faschovu, proto\u017ee nedoch\u00e1z\u00ed k distribuci zisku.<\/p>\n\n\n\n<p>Na druhou stranu, i kdy\u017e stakingov\u00fd poskytovatel m\u00e1 povinnost vr\u00e1tit v\u0161echna kryptom\u011bnov\u00e1 aktiva ulo\u017een\u00e1 u\u017eivatelem, ale p\u0159ij\u00edm\u00e1 odm\u011bnu spojenou s v\u00fdnosy, existuje prostor pro pova\u017eov\u00e1n\u00ed tohoto p\u0159\u00edpadu za \u00faschovu s odm\u011bnou z\u00e1vislou na v\u00fdnosech, ale tak\u00e9 existuje prostor pro pova\u017eov\u00e1n\u00ed tohoto p\u0159\u00edpadu za investici s garanc\u00ed n\u00e1hrady hlavn\u00ed \u010d\u00e1stky.<\/p>\n\n\n\n<p>D\u00e1le, pokud stakingov\u00fd poskytovatel nem\u00e1 povinnost vr\u00e1tit v\u0161echna kryptom\u011bnov\u00e1 aktiva ulo\u017een\u00e1 u\u017eivatelem a p\u0159ij\u00edm\u00e1 odm\u011bnu, kter\u00e1 nen\u00ed spojena s v\u00fdnosy, m\u016f\u017ee b\u00fdt tento p\u0159\u00edpad pova\u017eov\u00e1n za investici s omezen\u00edm maxim\u00e1ln\u00ed odm\u011bny.<\/p>\n\n\n\n<p>Nav\u00edc, pokud stakingov\u00fd poskytovatel nem\u00e1 povinnost vr\u00e1tit v\u0161echna kryptom\u011bnov\u00e1 aktiva ulo\u017een\u00e1 u\u017eivatelem a p\u0159ij\u00edm\u00e1 odm\u011bnu spojenou s v\u00fdnosy, m\u016f\u017ee b\u00fdt tento p\u0159\u00edpad pova\u017eov\u00e1n za typickou investici.<\/p>\n\n\n\n<p>Jak je uvedeno v\u00fd\u0161e, v p\u0159\u00edpad\u011b stakingov\u00e9ho podniku se rozhodnut\u00ed, zda jde o \u00faschovu nebo investici, li\u0161\u00ed podle konkr\u00e9tn\u00edho sch\u00e9matu. Pokud je rozhodnuto, \u017ee se jedn\u00e1 o investici, m\u016f\u017ee b\u00fdt podnik pova\u017eov\u00e1n za kolektivn\u00ed investi\u010dn\u00ed sch\u00e9ma a podl\u00e9hat regulac\u00edm podle z\u00e1kona o obchodov\u00e1n\u00ed s finan\u010dn\u00edmi n\u00e1stroji. Pokud je naopak rozhodnuto, \u017ee se jedn\u00e1 o \u00faschovu, m\u016f\u017ee podnik podl\u00e9hat regulac\u00edm podle z\u00e1kona o platebn\u00edm styku jako kryptom\u011bnov\u00e1 sm\u011bn\u00e1rensk\u00e1 \u010dinnost.<\/p>\n\n\n\n<p>Z tohoto d\u016fvodu je p\u0159i provozov\u00e1n\u00ed stakingov\u00e9ho podniku s kryptom\u011bnami nutn\u00e9 pe\u010dliv\u011b zv\u00e1\u017eit, kter\u00e9 sch\u00e9ma je aplikovateln\u00e9 a jak\u00e9 regulace budou na podnik aplikov\u00e1ny.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Zaver_Staking_kryptomen_a_jeho_pravni_regulace\"><\/span>Z\u00e1v\u011br: Staking kryptom\u011bn a jeho pr\u00e1vn\u00ed regulace<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>V\u00fd\u0161e jsme vysv\u011btlili staking kryptom\u011bn pro podnikatele a investory, kte\u0159\u00ed uva\u017euj\u00ed o jeho prov\u00e1d\u011bn\u00ed. Pro staking kryptom\u011bn je nezbytn\u00e9 m\u00edt nejen pr\u00e1vn\u00ed znalosti, ale tak\u00e9 znalosti souvisej\u00edc\u00ed s kryptom\u011bnami.<\/p>\n\n\n\n<p>Proto, pokud pl\u00e1nujete zah\u00e1jit podnik\u00e1n\u00ed ve stakingu kryptom\u011bn, doporu\u010dujeme konzultovat s pr\u00e1vn\u00edkem, kter\u00fd m\u00e1 odborn\u00e9 znalosti v t\u00e9to oblasti.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Predstaveni_opatreni_nasi_kancelare\"><\/span>P\u0159edstaven\u00ed opat\u0159en\u00ed na\u0161\u00ed kancel\u00e1\u0159e<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Pr\u00e1vn\u00ed kancel\u00e1\u0159 Monolith se specializuje na IT, zejm\u00e9na na internet a pr\u00e1vo, a nab\u00edz\u00ed vysokou \u00farove\u0148 odbornosti v obou oblastech. Na\u0161e kancel\u00e1\u0159 poskytuje komplexn\u00ed podporu pro podnik\u00e1n\u00ed souvisej\u00edc\u00ed s kryptom\u011bnami a blockchainem. Podrobnosti naleznete v n\u00e1sleduj\u00edc\u00edm \u010dl\u00e1nku.<\/p>\n\n\n\n<p><a href=\"https:\/\/monolith.law\/blockchain\" target=\"_blank\" rel=\"noreferrer noopener\">https:\/\/monolith.law\/blockchain[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mnoho lid\u00ed si p\u0159i zisku z kryptom\u011bn (virtu\u00e1ln\u00edch m\u011bn) p\u0159edstavuje metodu, kdy si zakoup\u00ed ur\u010ditou kryptom\u011bnu a prodaj\u00ed ji, kdy\u017e jej\u00ed hodnota stoupne. U kryptom\u011bn existuje tak\u00e9 metoda zvan\u00e1 staking, kte [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":64157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[20,19],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/62878"}],"collection":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/comments?post=62878"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/62878\/revisions"}],"predecessor-version":[{"id":64158,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/posts\/62878\/revisions\/64158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media\/64157"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/media?parent=62878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/categories?post=62878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/cs\/wp-json\/wp\/v2\/tags?post=62878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}