Crypto-Asset Service Provider (MiCA)
MiCA replaced the patchwork of national crypto registrations with a single EU authorisation for crypto-asset service providers. A licence obtained in one member state can be passported across the EU for the services it covers — custody, exchange, execution, placing, transfer, reception and transmission of orders, advice and portfolio management.
How the setup works
- Classify what you actually do against the MiCA service list, and decide which services to apply for — the classes drive your prudential and operational requirements.
- Choose the member state and incorporate, with a management body and effective presence inside the EU.
- Prepare the programme of operations for each service, the business plan and the governance arrangements.
- Build the compliance stack: AML/CFT, custody and segregation of client crypto-assets, complaints handling, conflicts of interest and ICT resilience.
- File with the national competent authority and work through its completeness check and assessment to authorisation, then passport.
Timeline
Generally 6–12 months. The authority’s formal assessment period runs only after the file is judged complete, and the custody and ICT sections are where most applications stall.
General requirements
- Prudential safeguards for the service classes applied for
- Management body with real presence in the EU
- Segregation and safekeeping of client crypto-assets
- AML/CFT framework with an appointed MLRO
- ICT risk and operational-resilience arrangements
- Complaints handling and conflict-of-interest policies
Documents needed
- Programme of operations for each service
- Business plan and financial projections
- Ownership and group structure chart
- Key-person questionnaires and clearances
- Custody and client-asset segregation policy
- AML/CFT policies and procedures
- ICT, security and resilience documentation
- Complaints and conflicts-of-interest policies
- Outsourcing and third-party arrangements
Requirements, fees and timelines are indicative and change over time. We confirm the current rules for your specific project before you commit.
Crypto-Asset Service Provider (MiCA)
Tell us about your situation and we will confirm whether this is the right route — and handle it end to end.
- A reply within one working day
- The first consultation is 30 minutes
- Confidential, no obligation