EU CRYPTO REGISTER · GLOSSARY · LAST VERIFIED
What is a Crypto-Asset Service Provider (CASP) under MiCA?
A CASP is a legal person whose occupation or business is the provision of one or more crypto-asset services to third parties, authorised under Article 63 of MiCA. There are ten defined service categories. As of 12 May 2026 the ESMA register lists nearly 200 authorised CASPs across the EEA.
What is the exact legal definition?
MiCA Article 3(1)(15) defines a Crypto-Asset Service Provider 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 basis, and that is allowed to provide crypto-asset services in accordance with Article 59". The ten services themselves are defined in Article 3(1)(16) and listed below. Source: Article 3 MiCA.
What does it actually mean in practice?
The ten authorised services. An authorisation is service-specific. A CASP may be authorised for one or several of: (a) custody and administration of crypto-assets on behalf of clients, (b) operation of a trading platform for crypto-assets, (c) exchange of crypto-assets for funds, (d) exchange of crypto-assets for other crypto-assets, (e) execution of orders for crypto-assets on behalf of clients, (f) placing of crypto-assets, (g) reception and transmission of orders, (h) providing advice on crypto-assets, (i) providing portfolio management on crypto-assets, and (j) providing transfer services for crypto-assets on behalf of clients.
Authorisation process. A CASP applies to the National Competent Authority of its home Member State under Article 62. The NCA assesses the application within strict time limits, subject to consultation with ESMA on certain categories of provider. An authorised CASP may passport its services across the EEA under Article 65 by notifying each host-state regulator.
Ongoing obligations. Authorised CASPs are subject to prudential capital requirements (Article 67), governance rules (Article 68), conflict-of-interest management (Article 72), client-asset segregation (Article 70), complaint handling (Article 71), and product-information requirements. They must also comply with the EU's anti-money-laundering rules, the Travel Rule, and market-abuse provisions under MiCA Title VI.
What being an "authorised CASP" actually signals. It signals that the entity has met MiCA's gating requirements at the moment of authorisation and is under ongoing prudential and conduct supervision by a named EEA regulator. It does not signal product safety, fee competitiveness, or commercial reputation - those are independent variables. Source: Articles 62-72 MiCA.
Where do we see this in the public record?
| Example | What it shows |
|---|---|
| Service code 'a' | Custody and administration of crypto-assets on behalf of clients |
| Service code 'b' | Operation of a trading platform for crypto-assets |
| Service codes 'c' and 'd' | Exchange for funds, and exchange for other crypto-assets |
| Service code 'j' | Providing transfer services on behalf of clients (Travel-Rule territory) |
What else do users ask about this?
Is an authorised CASP supervised in every EEA state it serves?
Day-to-day supervision sits with the home Member State's NCA. Host Member States may exercise certain conduct-of-business supervisory functions but cannot duplicate authorisation requirements. This is the passporting principle of Article 65.
Can an authorisation be revoked?
Yes. Under Article 64, an NCA may withdraw a CASP authorisation for breach of MiCA, failure to commence business within 12 months, cessation of activity, or other listed grounds. Withdrawals are entered into the ESMA register.
How long does authorisation take?
Article 63 sets a 40-working-day assessment window from the date the application is complete, with stop-the-clock provisions for additional information requests. ESMA must be consulted on certain categories (e.g. operators of trading platforms).
Which sources is this entry based on?
- MiCA Article 3 - Definitions
- MiCA Articles 62-64 - Authorisation, refusal, withdrawal
- ESMA Register of Crypto-Asset Service Providers
- ESMA Final Report on Reverse Solicitation Guidelines (17 December 2024)
Glossary entries on The Crypto Register are sourced from primary legal texts (Regulation (EU) 2023/1114, ESMA guidelines, national regulator publications). They are not legal advice. Last verified .