Markets in Crypto-Assets (MiCA) Regulated Services

MiCA creates an EU authorisation regime for crypto-asset service providers and rules for in-scope token issuers. Businesses providing regulated exchange,

Markets in Crypto-Assets (MiCA) Regulated Services covers legal assessment, document preparation and implementation support in Europe. It is typically relevant to businesses, investors and organisations operating or transacting in one or more countries. The precise rules, competent authority and procedure depend on the subject matter, jurisdiction and facts, with EU and national law considered together.

Key points

  • Classification of the activity or token determines the applicable regime.
  • CASP authorisation and issuer rules are separate legal questions.
  • Governance, own-funds and disclosure duties depend on the activity.
  • The competent authority controls the decision and timing.

Jurisdiction and applicable framework

MiCA applies directly across the EU to in-scope crypto-assets, issuers and service providers. Applicable technical standards and national rules governing the competent authority and procedure must also be checked.

Official sources

Last reviewed: 22 September 2026

MiCA creates an EU authorisation regime for crypto-asset service providers and rules for in-scope token issuers. Businesses providing regulated exchange, custody, execution or portfolio-management services require authorisation unless a specific legal exclusion applies. We guide CASPs and issuers through classification, applications, white-paper obligations and ongoing supervisory requirements.

We prepare CASP authorisation dossiers covering the programme of operations, governance arrangements, own-funds calculations, outsourcing policies, complaints handling, and conflicts-of-interest management required by MiCA Title V.

For token issuers, we draft or review crypto-asset white papers that meet MiCA's content, format, and liability rules - including the specific regimes for asset-referenced tokens (Title III) and e-money tokens (Title IV) - and coordinate notification with the relevant NCA.

What this includes

  • CASP authorisation application
  • Crypto-asset white-paper drafting
  • Own-funds & prudential calculations
  • Governance & outsourcing policies
  • AML/CTF & Travel Rule integration
  • Ongoing supervisory reporting

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