Since 30 December 2024 crypto services in the European Union follow one rulebook — the MiCA Regulation (EU) 2023/1114. The transitional period for existing players ended on 1 July 2026, so today serving EU clients with crypto services requires a CASP license. Here is what the regulator expects and how to prepare an application without wasted rounds.
In short: a CASP license is issued by the regulator of one EU country and is valid across the whole EEA. Minimum capital is €50,000, €125,000 or €150,000 depending on your services. You need an office and real management in the EU, an AML framework, IT security and vetted directors.
Who needs a CASP license
A CASP (crypto-asset service provider) is a company that provides crypto-asset services to EU clients on a professional basis. Regulated services include:
- custody and administration of crypto-assets;
- exchange of crypto-assets for fiat or other crypto-assets;
- operating a trading platform;
- execution, reception and transmission of client orders;
- placing, advice and portfolio management;
- transfer services for crypto-assets.
If your product performs even one of these functions for EU clients, a license is mandatory. Fully decentralised protocols with no intermediary sit outside MiCA, but in practice very few projects qualify.
Minimum capital by service class
MiCA groups services into three classes. Required capital is the higher of a fixed minimum or one quarter of annual fixed overheads.
| Class | Services | Minimum capital |
|---|---|---|
| 1 | Orders, advice, placing, transfers, portfolio management | €50,000 |
| 2 | Class 1 + custody and exchange of crypto-assets | €125,000 |
| 3 | Class 2 + operating a trading platform | €150,000 |
Company and team requirements
- EU presence. A registered office, place of effective management and at least one EU-resident director.
- Fit and proper management. Directors and qualifying shareholders are vetted for experience, clean records and a transparent source of funds.
- AML/CFT. KYC policies, transaction monitoring, the Travel Rule under Regulation 2023/1113 and an appointed MLRO.
- IT and security. DORA requirements: ICT risk management, incident handling, business continuity, audits of wallets and smart contracts.
- Client protection. Segregation of client assets, conflict-of-interest policy, complaints handling and risk disclosures.
Application review timeline
The regulation gives the authority a clear schedule: up to 25 working days to check completeness and up to 40 working days to assess a complete application. Requests for more information can pause the clock for up to 20 more working days. Including document preparation, a realistic path from kickoff to license is 6–12 months — and preparation is usually what sets the pace.
The right country speeds things up. If you have not chosen yet, start with jurisdiction selection: we compare regulators on timelines, substance requirements and total cost of ownership.
Passporting: one license for the whole EU
The key advantage of MiCA is the passport. Once licensed in, say, Lithuania or Malta, you notify the regulator of the countries you want to serve and after 15 days you can onboard clients across the EEA without separate permits — a market of 450 million people with a single application.
Frequently asked questions
Can I serve EU clients without a CASP license?
No. Since the transitional period ended on 1 July 2026, providing crypto services to EU clients without a CASP license is a breach. The only exception is service at the client's own exclusive initiative, which cannot support a business model.
Do I need a white paper for a CASP license?
No. MiCA white papers are published by crypto-asset issuers. A CASP prepares a programme of operations, business plan, policies and a description of internal controls.
Can I buy a ready-made licensed company?
Yes, that is a legitimate route: the change of control is approved by the regulator. See our ready-made companies, but keep in mind that the new owner is still vetted.
CrystalCore runs the license project from country choice to regulator Q&A: structure, policies, business plan, directors and banking. Send a request on the MiCA CASP licensing page and we will return a plan and quote for your model.
This article is for information only and is not legal advice.