Crypto-asset service provider (CASP) authorisation in Estonia under MiCA

A company that provides crypto-asset services to clients in the European Union needs an authorisation under the EU Markets in Crypto-Assets Regulation (MiCA). In Estonia the authorisation is granted by the Financial Supervision Authority (Finantsinspektsioon)⁸. This page sets out the acts, the requirements, the documents, the state fee and the authority's statutory time limits.

Information as of 11 November 2026. Every numbered statement of this page was checked in the official text named below and re-checked by a second reviewer on 2026-11-11. The page is general information, not legal advice; the authority decides on every application.

What the activity is

MiCA defines a crypto-asset service provider (CASP) as a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis¹. The ten crypto-asset services are: custody and administration on behalf of clients; operation of a trading platform; exchange of crypto-assets for funds; exchange for other crypto-assets; execution of orders on behalf of clients; placing; reception and transmission of orders; advice; portfolio management; and transfer services on behalf of clients². Custody means safekeeping or controlling, on behalf of clients, crypto-assets or the means of access to them, such as private cryptographic keys³.

Not covered, among others: crypto-assets that are unique and not fungible, and crypto-assets that qualify as financial instruments, deposits or funds (other than e-money tokens)⁴; and services provided exclusively within the provider's own group⁵.

The legal act and the authority

• Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It applies from 30 December 2024⁶.
• Krüptovaraturu seadus (Crypto-Asset Market Act, KrüTS), which specifies and supplements MiCA in Estonia⁷.
• Rahapesu ja terrorismi rahastamise tõkestamise seadus (Money Laundering and Terrorist Financing Prevention Act, RahaPTS) for anti-money laundering and counter-terrorist financing (AML/CFT)³³.

Under KrüTS, a crypto-asset market participant needs an activity licence, and the licence is granted and revoked by the Finantsinspektsioon⁸. The licence has no end date and cannot be transferred to another person⁹. The Finantsinspektsioon publishes the grant of a licence on its website no later than the working day after the decision takes effect¹⁰. It also notifies the European Securities and Markets Authority (ESMA) within two working days, and the provider appears in ESMA's public CASP register¹¹.

Who must apply

No person may provide crypto-asset services in the Union unless it is authorised as a CASP or is one of the financial entities that MiCA allows to provide such services on the basis of their existing authorisation¹². Those entities (for example credit institutions and investment firms) notify the authority at least 40 working days before starting, and the Finantsinspektsioon confirms their right by a decision¹³. A third-country firm may serve an EU client without authorisation only where the client acts on its own exclusive initiative; any solicitation in the Union rules that out¹⁴.

End of the transitional period for FIU-licensed providers. Since 30 December 2024 no new virtual currency service licence can be applied for from the Financial Intelligence Unit (Rahapesu Andmebüroo, FIU)¹⁵. KrüTS required virtual currency service providers that held rights under RahaPTS to bring their activity into line with KrüTS by 1 July 2026¹⁶; this matches the outer limit of MiCA's own transitional period¹⁷. An FIU licence became invalid when the company received a MiCA licence from the Finantsinspektsioon, or at the latest on 1 July 2026¹⁸. A provider that applied before 1 July 2026 and still awaits a decision is not treated as unlicensed, but may not conclude new client contracts until the decision¹⁹. A virtual currency service provider established and operating before 30 December 2024 that does not provide crypto-asset services from 1 July 2026 needs no licence from the Finantsinspektsioon, but must inform its clients and return their assets within a reasonable time²⁰.

Requirements for the applicant

Capital (own funds). A CASP must at all times hold prudential safeguards of at least the higher of the permanent minimum capital in MiCA Annex IV and one quarter of its fixed overheads of the preceding year²¹. A new firm uses the projected fixed overheads for its first 12 months²². Annex IV sets three classes²³:

The safeguards may be own funds of Common Equity Tier 1 quality, an insurance policy or comparable guarantee, or a combination²⁴.

Legal form, seat and management. The provider must have its registered office in a Member State where it carries out at least part of its services, its place of effective management in the Union and at least one director resident in the Union²⁵. A KrüTS licence holder must have its registered seat in Estonia, stated in its articles of association²⁶, and may operate only as a private limited company (osaühing) or public limited company (aktsiaselts)²⁷. The management board of a CASP has at least two members²⁸. A private limited company needs a supervisory board of at least three members, unless it provides neither custody nor a trading platform; in that case its shareholders must meet the requirements for members of the management body²⁹.

Fit and proper. Management body members must be of sufficiently good repute, have the knowledge, skills and experience to perform their duties, have no money laundering or terrorist financing convictions, and commit sufficient time³⁰. Shareholders with qualifying holdings must also be of sufficiently good repute³¹.

Staff and key functions. The provider must employ personnel with the knowledge, skills and expertise needed for their responsibilities³².

AML/CFT. A CASP is a financial institution under RahaPTS (except a provider of advice only)³³. It must prepare a risk assessment of its money laundering and terrorist financing risks³⁴ and adopt procedural rules and internal control rules³⁵. It designates a board member responsible for AML compliance and an FIU contact person who works permanently in Estonia, agreed with the FIU³⁶. A CASP also applies Regulation (EU) 2023/1113 on information accompanying transfers of crypto-assets (the "travel rule")³⁷.

ICT and outsourcing. The provider must follow the digital operational resilience requirements of Regulation (EU) 2022/2554 (DORA)³⁸. A provider that outsources operational functions remains fully responsible for its obligations³⁹.

Documents filed with the application

MiCA Article 62(2) lists the content of the application⁴⁰; Commission Delegated Regulation (EU) 2025/305 specifies it further⁴¹. Grouped:

• Corporate: name, legal entity identifier (LEI), website, contact details, address, legal form, articles of association.
• Business: programme of operations (services, where and how marketed) for 3 years after authorisation⁴²; type of crypto-assets.
• Prudential: proof of the safeguards under Article 67.
• Governance and people: governance arrangements; proof of the management body's good repute and competence; qualifying holders and their holdings, with proof of good repute, including absence of criminal records and relevant penalties⁴³.
• Risk and control: internal control and risk procedures including AML/CFT, naming the person in charge of AML compliance⁴⁴; business continuity plan; ICT documentation; segregation of client assets; complaints handling.
• Service-specific: custody policy; trading platform rules and market abuse detection; exchange pricing policy; execution policy; adviser expertise; transfer services.

State fee and processing time

The procedural fee for a CASP licence application is EUR 3,000⁴⁵. Extending an existing licence to further services costs EUR 1,500⁴⁶. After authorisation the provider pays an annual supervision fee; its capital part is 1% of the Annex IV amount for the licensed scope, and a volume-based part is added⁴⁷.

The statutory time limits of MiCA Article 63 are:

• acknowledgement of receipt within five working days⁴⁸;
• assessment of completeness within 25 working days of receipt; if incomplete, the authority sets a deadline for the missing information and may refuse to review an application that stays incomplete⁴⁹;
• a reasoned decision within 40 working days of receipt of a complete application, notified within five working days of the decision⁵⁰.

The authority may request further information up to the 20th working day of the assessment; the period is then suspended until the answer, for up to 20 working days⁵¹. These are the law's time limits, not a promise; the decision is the authority's alone.

What LexorCorp Global OÜ does and how to order

LexorCorp Global OÜ prepares the application documents and manages the process. The site offers three rows of the service "EU MiCA crypto-asset service provider (CASP) authorisation":

• Class 1 — from €19,500;
• Class 2 — from €29,500;
• Class 3 (trading platform, including the Class 2 services such as custody) — from €39,500.

Each row includes the full MiCA CASP application for the chosen class and management of the Finantsinspektsioon's questions until the decision. The price is a professional fee, not the price of a licence; it excludes state and supervision fees, regulatory capital and third-party costs.

LexorCorp Global gives no legal, audit or tax advice and cannot promise the licence, a date or a decision.

Order on the service page: order form.

Sources

1. Regulation (EU) 2023/1114 (MiCA), Art. 3(1)(15) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
2. Regulation (EU) 2023/1114 (MiCA), Art. 3(1)(16)(a)-(j) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
3. Regulation (EU) 2023/1114 (MiCA), Art. 3(1)(17) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
4. Regulation (EU) 2023/1114 (MiCA), Art. 2(3), 2(4)(a)-(c) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
5. Regulation (EU) 2023/1114 (MiCA), Art. 2(2)(a) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
6. Regulation (EU) 2023/1114 (MiCA), Art. 149(2) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
7. Krüptovaraturu seadus (KrüTS), § 1 — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
8. Krüptovaraturu seadus (KrüTS), § 5(1)-(2) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
9. Krüptovaraturu seadus (KrüTS), § 5(3) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
10. Krüptovaraturu seadus (KrüTS), § 5(7) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
11. Regulation (EU) 2023/1114 (MiCA), Art. 63(13); Art. 109(1)(d) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
12. Regulation (EU) 2023/1114 (MiCA), Art. 59(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
13. Regulation (EU) 2023/1114 (MiCA), Art. 60(1),(3); KrüTS § 6(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
14. Regulation (EU) 2023/1114 (MiCA), Art. 61(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
15. Rahapesu ja terrorismi rahastamise tõkestamise seadus (RahaPTS), § 118⁴(1) — text in force from 21.07.2026
16. Krüptovaraturu seadus (KrüTS), § 48(4) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
17. Regulation (EU) 2023/1114 (MiCA), Art. 143(3) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
18. Rahapesu ja terrorismi rahastamise tõkestamise seadus (RahaPTS), § 118⁴(3) — text in force from 21.07.2026
19. Krüptovaraturu seadus (KrüTS), § 48(5) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
20. Krüptovaraturu seadus (KrüTS), § 48(6) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
21. Regulation (EU) 2023/1114 (MiCA), Art. 67(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
22. Regulation (EU) 2023/1114 (MiCA), Art. 67(2) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
23. Regulation (EU) 2023/1114 (MiCA), Annex IV — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
24. Regulation (EU) 2023/1114 (MiCA), Art. 67(4) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
25. Regulation (EU) 2023/1114 (MiCA), Art. 59(2) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
26. Krüptovaraturu seadus (KrüTS), § 5(4) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
27. Krüptovaraturu seadus (KrüTS), § 7(1) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
28. Krüptovaraturu seadus (KrüTS), § 7(3) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
29. Krüptovaraturu seadus (KrüTS), § 7(2) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
30. Regulation (EU) 2023/1114 (MiCA), Art. 68(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
31. Regulation (EU) 2023/1114 (MiCA), Art. 68(2) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
32. Regulation (EU) 2023/1114 (MiCA), Art. 68(5) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
33. Rahapesu ja terrorismi rahastamise tõkestamise seadus (RahaPTS), § 6(2) p 3^1 — text in force from 21.07.2026
34. Rahapesu ja terrorismi rahastamise tõkestamise seadus (RahaPTS), § 13(1) — text in force from 21.07.2026
35. Rahapesu ja terrorismi rahastamise tõkestamise seadus (RahaPTS), § 14(1) — text in force from 21.07.2026
36. Rahapesu ja terrorismi rahastamise tõkestamise seadus (RahaPTS), § 17(1),(2),(5) — text in force from 21.07.2026
37. Krüptovaraturu seadus (KrüTS), § 7(5) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
38. Krüptovaraturu seadus (KrüTS), § 9(1); MiCA Art. 68(7) — text in force from 01.07.2024 (RT I, 21.06.2024, 3; 'hetkel kehtiv')
39. Regulation (EU) 2023/1114 (MiCA), Art. 73(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
40. Regulation (EU) 2023/1114 (MiCA), Art. 62(2)(a)-(s) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
41. Commission Delegated Regulation (EU) 2025/305, Title — text in force from original text (no consolidated version)
42. Commission Delegated Regulation (EU) 2025/305, Art. 2(1) — text in force from original text (no consolidated version)
43. Regulation (EU) 2023/1114 (MiCA), Art. 62(3)(a),(c) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
44. Commission Delegated Regulation (EU) 2025/305, Art. 6(d) — text in force from original text (no consolidated version)
45. Finantsinspektsiooni seadus (FIS), § 45^3(2) — text in force from 01.10.2026 (RT I, 11.07.2026, 12)
46. Finantsinspektsiooni seadus (FIS), § 45^4 — text in force from 01.10.2026 (RT I, 11.07.2026, 12)
47. Finantsinspektsiooni seadus (FIS), § 39(1) p 7; § 39(2) p 22-24 — text in force from 01.10.2026 (RT I, 11.07.2026, 12)
48. Regulation (EU) 2023/1114 (MiCA), Art. 63(1) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
49. Regulation (EU) 2023/1114 (MiCA), Art. 63(2)-(3) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
50. Regulation (EU) 2023/1114 (MiCA), Art. 63(9) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)
51. Regulation (EU) 2023/1114 (MiCA), Art. 63(12) — text in force from consolidated version 09.01.2024 (latest on EUR-Lex; amended by Reg. (EU) 2023/2869, corrigendum 2.5.2024)

Official sources

The laws this article names, each linked to its official text, as read on 9 October 2026. For the Estonian acts we read the English translation in Riigi Teataja; the legally binding text is the Estonian one.

• Regulation (EU) 2023/1114 — EUR-Lex
• Money Laundering and Terrorist Financing Prevention Act — Riigi Teataja, English translation
• Regulation (EU) 2023/1113 — EUR-Lex
• Regulation (EU) 2022/2554 — EUR-Lex

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