Which MiCA class does my business need?
The class follows from the services you will provide. Transfer, advice or order handling alone is Class 1. Adding custody or exchange of crypto-assets for money or other crypto-assets makes it Class 2. Operating a trading platform makes it Class 3. We confirm the class in the quote after reviewing your planned services.
Is custody a Class 3 service?
No. Under Annex IV of MiCA, custody and administration of crypto-assets on behalf of clients is a Class 2 service. Class 3 adds the operation of a trading platform. A Class 3 provider may also provide the Class 2 services, including custody.
Is the minimum capital part of your price?
No. The minimum capital (50,000, 125,000 or 150,000 euros depending on the class) must be held by your company. Our price is our professional fee only.
Can an Estonian CASP serve clients in other EU countries?
MiCA allows an authorised crypto-asset service provider to provide services in other Member States after it has submitted the information required by Article 65 of the regulation to its home authority. We can prepare that notification as part of the project.
Do you guarantee the authorisation?
No. The Financial Supervision Authority decides whether to grant the authorisation. We prepare a complete application and manage the process, but we cannot promise the outcome or its timing.
How does a MiCA-authorised CASP provide services in other Member States?
It notifies its home authority under Article 65 of MiCA with the list of Member States, the services, the starting date and its other activities. The home authority forwards the information within ten working days; the CASP may start from the date of that communication and at the latest on the fifteenth calendar day after its complete submission.
Does the passport notification cover local rules in the host country?
No. It activates the regulatory passport. Local consumer, marketing, language and tax rules in each host state still apply; a review of them is not part of this service.
What ongoing obligations does a CASP have after authorisation?
Among others: prudential safeguards at all times (Article 67 of MiCA), governance and internal control (Article 68), complaints handling (Article 71), conflicts of interest (Article 72), outsourcing controls (Article 73), custody rules where relevant (Article 75), DORA and the Travel Rule. Our monthly support helps you keep policies and reporting current.
Does the compliance support make you our compliance officer?
No. Your compliance officer and management board must be your own people, assessed by the authority. The support gives them answers, updated policies and a reporting calendar.
Who needs a crypto-asset white paper?
An offeror of crypto-assets to the public, or a person seeking admission to trading, must in principle draw up and notify a white paper under Title II of MiCA, unless an exemption applies. Asset-referenced and e-money tokens follow separate rules.