How much capital do you need for the MiCA CASP Authorisation?

€50k–€150k by class. Class 1: EUR 50,000; Class 2: EUR 125,000; Class 3: EUR 150,000.

How long does the MiCA CASP Authorisation take?

Statutory clock: 25 working days completeness check, then 40 working days assessment from a complete file, decision notified within 5 working days (Art. 63). Suspendable or extendable in some member states. In practice: Typically 4–12 months elapsed for a well-prepared file; the completeness phase has been running 45–60 days during the post-transition application rush (industry estimate).

General information only. CryptoRegHub provides summaries for informational purposes and does not constitute legal or compliance advice. Always verify with official sources and consult qualified legal counsel before making compliance decisions.

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Recently verified:28 July 2026·Source →

MiCA CASP Authorisation

Q: What does the MiCA CASP Authorisation application cost?

Application fee: No EU-level fee — application fees are set nationally by each competent authority and vary by member state.. Ongoing: National supervisory fees vary by NCA.

European UnionExchange / tradingCustodyBroker / dealerTransfer / paymentsLive

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General information only — not legal advice

CryptoRegHub provides plain-English summaries of crypto regulations for informational purposes only. This does not constitute legal, compliance, or financial advice. Regulations change frequently — always verify information with official sources and consult qualified legal counsel before making any compliance decisions.

Authorisation as a crypto-asset service provider under the Markets in Crypto-Assets Regulation. Apply once in your home member state and passport across all 27 EU countries. Around 280 CASPs have been authorised since the regime went live, with the transition period ending on 1 July 2026 for most member states.

Capital requirements

Tier	Capital	Covers
Class 1	EUR 50,000 Floor — ongoing own funds are the higher of this or 25% of prior-year fixed overheads	Advice · reception & transmission · execution · placing · transfer services · portfolio management
Class 2	EUR 125,000 Floor — higher-of test applies	Any Class 1 service + custody & administration · exchange for funds or other crypto-assets
Class 3	EUR 150,000 Floor — higher-of test applies	Any Class 2 service + operation of a trading platform

Application process

Choose your home member state and NCA

Where you apply determines your supervisor; once granted, the authorisation passports EU-wide. The rulebook is uniform, but NCA timelines, substance expectations and supervisory culture differ materially.

Determine your service mix and capital class

MiCA defines ten crypto-asset services; your combination sets the Annex IV class and capital floor. If services span classes, the highest single class applies once — floors are not cumulative. Misclassifying scope here is the most common cause of mid-review delay.

Prepare the Article 62 application file

Programme of operations, governance and fit-and-proper evidence for the management body, prudential and own-funds evidence, ICT resilience (DORA), AML including Travel Rule capability, custody and client-asset segregation policies.

Submit and completeness check

The NCA has 25 working days to confirm the file is complete; missing items pause the process until supplied. In practice this phase is where most delay lives.

Assessment and decision

40 working days from a complete file (extendable in some member states), with the decision notified within 5 working days. On grant, the CASP is added to the ESMA register.

Ongoing obligations

Own funds — Maintain the higher of your Annex IV class floor or one quarter of prior-year fixed overheads, reviewed annually (Art. 67).

Capital quality — CET1-quality, cash paid-up (CRR Arts. 26–30 after Art. 36 deductions). Crypto-assets on the balance sheet and shareholder loans do not count towards own funds.

Custody and client-asset segregation — Segregated client positions with per-client registers (Art. 75); insurance or an additional capital set-aside against operational and cyber risk where custody is offered.

ICT resilience — DORA applies alongside MiCA.

Conduct, disclosure and complaints handling — Plus ongoing reporting to the home NCA.

E-money token overlap — Custody or transfer of e-money tokens is treated as a payment service: PSD2 initial capital applies on top of MiCA, cumulatively (EBA opinion, 2025).

Common rejection & delay reasons

Service misclassification

Applying as Class 1 when the model is really an exchange or OTC desk triggers reclassification mid-review, added months and capital restructuring — the most commonly cited error (industry estimate).

Completeness drag

The completeness phase has been running 45–60 days even for clean files during the post-transition rush (industry estimate).

Governance substance

Thin local presence, non-resident management, or fit-and-proper gaps in the management body (Art. 68).

Unevidenced technology

Travel Rule and custody capability must be demonstrated in the file; committing to procure at launch is not accepted.

What's changing

MiCA review consultation — submissions due 31 August 2026

31 August 2026· consultation

Remaining member-state transition tails run through 30 December 2026 in some states

30 December 2026· in force

Frequently asked questions

JurisdictionEuropean Union

RegulatorNational competent authority (home member state); ESMA register on grant

TypeAuthorisation

Capital€50k–€150k by class

Application feeNo EU-level fee — application fees are set nationally by each competent authority and vary by member state.

Ongoing feesNational supervisory fees vary by NCA.

Statutory clock25 working days completeness check, then 40 working days assessment from a complete file, decision notified within 5 working days (Art. 63). Suspendable or extendable in some member states.

Realistic timelineTypically 4–12 months elapsed for a well-prepared file; the completeness phase has been running 45–60 days during the post-transition application rush (industry estimate).

Grace / transitionTransition period expired 1 July 2026 for most member states; remaining national tails run to end-2026.

PassportingEU-wide (27 member states)

Last verified28 Jul 2026

Incorporation and registered office in the home member state. Substance expectations (resident management, real office) vary by NCA even though the rulebook is uniform; some NCAs run pre-application readiness stages.

https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32023R1114 →

MiCA →DORA →EU DLT Pilot Regime →EU TFR / Travel Rule →United Kingdom: FCA Cryptoasset Authorisation →

Disclaimer

This guide is for general informational purposes only and does not constitute legal advice. Figures change — always verify with the regulator and consult qualified counsel before applying.