MiCA CASP authorisation.
A CASP (Crypto Asset Service Provider) licence is the EU regulatory authorisation under MiCA — the Markets in Crypto-Assets Regulation. A MiCA CASP licence, issued by an EU national competent authority, provides a single passport covering all 27 EU member states for crypto asset exchange, custody, brokerage, advisory, and portfolio management services.
EU Passport
27 member states
Single authorisation
Framework
MiCA
Full effect Dec 2024
Fastest EU Route
Lithuania u00b7 Estonia
2u20134 months
Capital from
EUR 50K
Exchange / custody category
01 — Engagement fit
Where this service
Where this service
compounds.
We work best with operators who treat this work as part of the product, not as an obstacle. Here is where we deliver — and where we may not be the right call.
Ideal engagement
When we deliver outsized value
Crypto operators targeting EU retail and professional clients
Any crypto exchange, custody provider, or digital asset broker seeking to serve EU-resident clients on a legitimate basis needs a MiCA CASP authorisation. Since December 2024, operating crypto asset services to EU clients without a MiCA CASP is a regulatory violation in all 27 member states.
Operators transitioning from pre-MiCA national registrations
Businesses holding legacy VASP registrations (Lithuanian FNTT, Estonian FIU, French AMF DASP) under pre-MiCA national frameworks are transitioning to full CASP authorisation. We manage the transition dossier, whitepaper updates, and EU passport notifications.
Institutional crypto firms seeking the EU single market
For institutional crypto operators u2014 trading desks, custody providers, crypto prime brokers u2014 a MiCA CASP from CySEC, BaFin, or MFSA provides the EU regulatory credential needed for institutional counterparty relationships across all 27 member states.
Look elsewhere
When we may not be the right fit
Operators targeting only non-EU markets
MiCA CASP is specifically for EU market access. Operators whose client base is entirely non-EU (Asia, MENA, Americas) do not need a CASP u2014 they need a VASP licence from their relevant jurisdiction (MAS, VARA, AUSTRAC). The CASP process is resource-intensive and not the right path for purely non-EU operations.
Businesses with weak AML programmes
MiCA CASP applications require a comprehensive AML/CTF programme, Travel Rule compliance, and demonstrated supervisory capability. Applications submitted without these foundations will be rejected and damage the relationship with the chosen NCA.
Operators expecting a CASP to substitute for MiFID II
MiCA covers crypto assets. It does not cover crypto assets that qualify as financial instruments under MiFID II u2014 those remain under MiFID II. A CASP licence alongside a CIF authorisation is the correct dual structure for operators dealing in both crypto assets and financial instruments.
02 — What you receive
Concrete
Concrete
deliverables.
Every engagement is scoped against a defined deliverable set. No "best-efforts" billing — the package is what you get, capped variations agreed in writing.
MiCA CASP service classification
Mapping of your crypto activities to the MiCA CASP service categories u2014 exchange, custody, brokerage, portfolio management, advisory, transfer, placement u2014 and the corresponding capital and conduct obligations.
NCA selection & jurisdiction analysis
Comparison of Lithuania, Estonia, France AMF, CySEC, BaFin, and other EU NCAs against your business model, substance requirements, and timeline priorities.
MiCA authorisation application management
Full CASP application prepared and filed u2014 regulatory business plan, whitepaper review, AML framework, governance documentation, and key-person submissions.
AML/CTF & Travel Rule compliance
MiCA-compliant AML programme including CDD, EDD, transaction monitoring, suspicious transaction reporting, and FATF Travel Rule implementation.
EU passport notification management
CASP home-state authorisation followed by EU passport notifications for cross-border services and establishment in target member states.
Ongoing MiCA compliance support
Annual CASP compliance reviews, MiCA regulatory change monitoring, whitepaper update management, and NCA supervisory liaison.
03 — Engagement cadence
How the work
How the work
actually moves.
A typical engagement runs along the phases below. Where we are joining mid-stream — into an existing application or a live operation — we adapt from the relevant entry point.
MiCA scope mapping & NCA selection
Weeks 1u20133Map crypto services to MiCA CASP categories. Calculate minimum capital. Select the EU NCA for authorisation.
Entity formation & application preparation
Weeks 3u201312Establish EU substance. Build the AML programme, governance framework, whitepaper (if applicable), and business plan.
NCA review
Months 3u201312Lithuania / Estonia: 2u20134 months. France AMF: 4u20139 months. CySEC / MFSA: 6u201312 months. BaFin: 12u201318 months. NCA issues Q&A rounds during review.
CASP authorisation & EU passport
Month 4u201318CASP authorisation granted. EU passport notifications filed for target member states. Operational go-live.
"MiCA is the most significant crypto regulatory event since Bitcoin. Operators who file their CASP applications early, with clean AML infrastructure and genuine EU substance, will hold a structural advantage over those who wait." — — GSS Legal, MiCA CASP Advisory
04 — Common questions
Before
Before
we start.
The questions we get on every diagnostic call. If yours isn't here, raise it in the consultation.
A MiCA CASP (Crypto Asset Service Provider) licence is the EU authorisation under the Markets in Crypto-Assets Regulation (MiCA), which took full effect in December 2024. It is issued by one EU national competent authority (NCA) and provides a single EU passport for the covered crypto asset services u2014 exchange, custody, brokerage, portfolio management, advisory, and transfer u2014 across all 27 EU member states. Operating these services to EU clients without a CASP authorisation is now a regulatory breach.
Lithuania (FNTT) has the largest concentration of crypto-friendly expertise, the most established application pipeline, and a 2u20134 month review timeline u2014 making it the fastest EU CASP route. Estonia FIU is comparable. France AMF offers stronger institutional credibility at a longer timeline. Cyprus CySEC combines CASP with MiFID II expertise for operators needing both. BaFin and DNB carry the highest institutional weight but also the most demanding processes.
MiCA sets three minimum capital tiers: EUR 50,000 for crypto asset exchange, custody, and brokerage services; EUR 125,000 for operators of a trading platform; EUR 150,000 for the highest-risk CASP categories. Capital must be maintained on an ongoing basis. Some NCAs apply national discretion to increase minima above the MiCA floor.
MiCA explicitly excludes truly unique NFTs and decentralised protocols without a central issuer or service provider from its scope. However, the boundary is not always clear u2014 mass-issued NFTs with fungibility may qualify as crypto assets under MiCA, and DeFi protocols with identifiable controlling parties may be subject to CASP obligations. We provide a MiCA classification assessment for specific token and protocol designs.
Pre-MiCA registrations (Lithuanian FNTT, Estonian FIU, French AMF DASP) were national AML registrations u2014 lighter, faster, but without an EU passport or the full MiCA conduct-of-business framework. MiCA CASP is a full authorisation with detailed organisational, capital, conduct, and consumer-protection requirements. Pre-MiCA entities have an 18-month grandfathering window from MiCA's effective date to apply for full CASP authorisation before losing the right to operate.
Ready when you are
Tell us where
Tell us where
you want to
operate.
Forty-five minutes with a partner. Jurisdiction memo within seven days. No retainer required to start.
45 min
First call with a partner.
No retainer required.
No retainer required.