EU CRYPTO REGISTER · GLOSSARY · LAST VERIFIED
What is MiCA Article 63 (the CASP authorisation procedure)?
Article 63 of MiCA sets out the standard authorisation procedure for a crypto-asset service provider. An applicant submits a detailed file to the National Competent Authority of its home Member State. The NCA has 40 working days from completeness to issue a decision, subject to ESMA consultation for certain service categories. An authorised CASP appears in the ESMA register and may passport its services under Article 65.
What is the exact legal definition?
MiCA Article 63(1)-(3) requires the applicant to submit information specified in Article 62, including the legal form, governance, internal-control systems, business plan, prudential capital, anti-money-laundering policies, and IT security arrangements. Article 63(4) sets the 40-working-day decision window from the date the file is complete, with stop-the-clock provisions for additional information requests. Source: Articles 62 and 63 MiCA.
What does it actually mean in practice?
The file. The application includes: the applicant's legal name and form, the address of its head office in the Union, the proposed services and crypto-assets, the names of senior managers and shareholders, a programme of operations including the marketing plan, a business continuity plan, the prudential capital arrangements (Annex IV), the AML/CFT policies, and the IT-security and operational-resilience documentation. ESMA may issue technical standards refining each of these.
NCA discretion and refusal grounds. Article 64 sets out the grounds on which an NCA may refuse: failure to meet the substantive requirements of Title V, inadequate fitness and propriety of senior management, concerns about the suitability of qualifying shareholders, or close links that prevent effective supervision. Refusals are entered in the ESMA register and may be appealed under national law.
ESMA consultation. For applicants intending to operate trading platforms (service 'b'), Article 63 requires the NCA to consult ESMA before authorisation. This adds time but provides a layer of EU-wide consistency for the most market-impactful service category.
What 'authorised' actually conveys. Authorisation under Article 63 means the entity passed MiCA's gating requirements at the moment of authorisation, has been judged fit and proper by a named NCA, and is subject to ongoing supervision. It does not warrant the commercial quality of the offering, the safety of any particular crypto-asset traded, or the absence of operational risk.
Where do we see this in the public record?
| Example | What it shows |
|---|---|
| Decision window | 40 working days from completeness (with stop-the-clock) |
| ESMA consultation trigger | Trading-platform operator authorisation (service 'b') |
| Refusal grounds (Article 64) | Failure on Title V requirements; unfit management; unsuitable shareholders; close-link supervisory blocks |
| Outcome of authorisation | Entry in the ESMA register; eligibility to passport under Article 65 |
What else do users ask about this?
Can an authorisation be conditional?
Article 63(7) permits NCAs to attach conditions to an authorisation where this is necessary for effective supervision or for the protection of clients. The conditions are entered in the ESMA register.
Is the application file public?
Authorisation decisions and refusals are made public via the ESMA register. The underlying application files are not, beyond what each NCA chooses to disclose under national transparency rules.
Can the authorisation be extended later to new services?
Yes. Article 63(8) allows the CASP to request an extension to additional services. The amendment is processed by the home NCA and entered in the register.
Which sources is this entry based on?
- MiCA Article 62 - Information for an application
- MiCA Article 63 - Authorisation procedure
- MiCA Article 64 - Refusal grounds
- MiCA Annex IV - Prudential capital requirements
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 .