CASP AUTHORIZATION
The provision of any of the 10 crypto-asset services is subject to authorization by the competent authorities of the home member state. The applicant entity has to be a legal person or an undertaking with a registered office in the member state where it aims to provide at least some of its activities. The information that needs to be provided during the application process and the prudential requirements will depend on the services that the authorization is sought for.
Different rules will apply to licensed entities whose current services closely resemble the crypto-asset services prescribed by MiCA. Once, authorized to provide crypto-asset services, the CASP authorization will be valid across the EU.
General requirements for CASP authorization:
- Legal person, undertaking, other undertakings ensuring an equivalent level of protection as a legal person
- Registered office in EU member state of activity
- Effective management in the EU
- At least one of the directors resident in the EU
- A clear description of activities
- Sound governance arrangements
Inga Karulaitytė-Kvainauskienė
Lawyer, attorney at law, partner of the law firm
+370 5 212 40 84
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