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CASP licence in the EU under MiCA

  • Who it suitsExchanges, custodians, brokers, advisers and other crypto businesses that want to serve clients across the EU
  • AuthorityThe competent authority of the home member state, where the registered office is
  • ReviewUp to 40 working days after the application is complete, with a completeness check before that

Under the Markets in Crypto-Assets Regulation (MiCA) a business may provide crypto-asset services in the EU only if it is an authorised crypto-asset service provider (CASP) or a financial institution that is allowed to offer them. One authorisation, issued by the regulator of one member state, lets you serve clients in the whole Union. We choose the home state, prepare the application and the policies behind it, and then arrange passporting to the other countries. For the wider picture see our guide to the CASP licence under MiCA.

What clients come to us with

  • You run an exchange, a custody service or a broker outside the EU and want to enter the European market
  • You operate under a national registration and need to move to a MiCA authorisation
  • You are choosing the home state and want to compare regulators
  • You need the policies and the operations plan that the regulator expects with the application
  • You want to offer services in several member states after the first authorisation
  • You consider buying an already licensed company, see our case on acquiring a licensed crypto company

How the process works

1
Choosing the home state and the structure
An authorised CASP must have its registered office in a member state where it carries on at least part of its services. Its place of effective management must also be in the EU, and at least one director must live in the EU. The application goes to the competent authority of that home state, so the choice of country decides who reviews you.
What you getA home state decision and a company structure
2
Preparing the application
The application contains the company details, the articles, an operations plan, proof of prudential safeguards, governance arrangements, proof that the management body is reputable and competent, and the qualifying shareholders with proof of their reputation. It also needs internal control and AML policies, a business continuity plan, ICT and security documentation, a procedure for segregating client assets and a complaints procedure. Depending on the service, custody, trading platform, execution, advice and transfer policies are added.
What you getA complete package of documents and policies
3
Filing and the review
The regulator confirms receipt within 5 working days and checks completeness within 25 working days. It then decides within 40 working days after a complete application. It can ask for more information, and the clock stops for the time you need to answer, up to 20 working days. Expect interviews with the management and a request to clarify details of the plan. The decision is notified within 5 working days.
What you getA managed dialogue with the regulator
4
Authorisation and serving other member states
The authorisation lists the services you may provide, and adding a service later means applying for an extension to the same authority. To offer services in other countries you notify the home regulator with the list of countries, the services and the planned start date. The regulator passes the notice on within 10 working days and confirms it to you. You may start from that confirmation, or at the latest on the 15th calendar day after you filed the notice.
What you getAn authorisation and a passporting notice

What to check before applying

Management and shareholders

The regulator must refuse authorisation if the management body or the qualifying shareholders fail the reputation and suitability tests. We collect the evidence early, because gaps here are the usual reason for delay.

ResultA fit and proper file for each person
Transitional period

Providers that worked under national law before 30 December 2024 could continue until 1 July 2026 at the latest, or until the decision on their application, and member states could shorten the period. If you rely on a transition, check the rule of your country.

ResultA view on whether you may keep operating
Other rules that apply

Authorisation does not remove other duties. See our notes on the Travel Rule for crypto transfers and on financial advertising for crypto. For the price of the work see our pricing.

ResultA list of the obligations that follow the licence

Questions

Can a non-EU company apply directly?

Not as such. The authorised provider needs its registered office and effective management in the EU and at least one resident director, so a non-EU group usually sets up an EU company.

How long does the review take?

The law sets 40 working days from a complete application, plus the completeness check and any time the clock is stopped for questions. Preparing the application takes longer than the review.

Does one authorisation cover the whole EU?

Yes. After the notice to the home regulator you may serve clients in other member states, with or without a branch.

Can we add services later?

Yes, through an extension of the authorisation filed with the same regulator.

Sources5 documents

Want to get a CASP licence in the EU?

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