MiCA Title V, Regulation (EU) 2023/1114

What does a CASP authorisation checklist have to cover?

Your services decide your Annex IV class, your minimum capital (EUR 50,000, EUR 125,000 or EUR 150,000) and which service-specific policies Article 62 makes you file. See your class and the documents the Regulation and its technical standards name.

Question 1

What is the applicant today?

MiCA has two doors. Firms already holding certain EU authorisations notify under Article 60; everyone else applies under Article 62.

What this checks

The 6 things it checks

Which Annex IV class your combination of services falls into
The permanent minimum capital and the fixed-overheads alternative in Article 67
The service-specific documents named in Article 62(2), points (m) to (r)
The Article 60 notification route for firms that already hold an EU licence
The seat, management and directorship conditions in Article 59(2)
The technical standards that expand the file: Delegated Regulations (EU) 2025/305, 2025/885, 2025/1140 and 2025/1142

CASP Checklist is an information site. We are not a law firm and we are not authorised, registered by, affiliated with or endorsed by ESMA, the EBA, the European Commission or any national competent authority. Nothing here is legal or regulatory advice. The document list on this site is taken from Regulation (EU) 2023/1114 and its technical standards; your national competent authority publishes the forms that actually govern your application, and its requirements prevail.

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MiCA CASP authorisation: class, capital and documents by service

Last updated 2026-10-30

The ten crypto-asset services in Article 3(1)(16), each mapped to its Annex IV class, its permanent minimum capital, and the service-specific item Article 62(2) requires in the application. Nothing here is inferred: every column comes from the Regulation's own text.

MiCA CASP authorisation: class, capital and documents by service
Crypto-asset service	Annex IV class	Minimum capital	Service-specific item the application must contain
Providing custody and administration of crypto-assets on behalf of clients	Class 2	EUR 125,000	A description of the custody and administration policy, Article 62(2)(m)
Operation of a trading platform for crypto-assets	Class 3	EUR 150,000	Operating rules plus the procedure and system to detect market abuse, Article 62(2)(n)
Exchange of crypto-assets for funds	Class 2	EUR 125,000	A non-discriminatory commercial policy and the pricing methodology, Article 62(2)(o)
Exchange of crypto-assets for other crypto-assets	Class 2	EUR 125,000	A non-discriminatory commercial policy and the pricing methodology, Article 62(2)(o)
Execution of orders for crypto-assets on behalf of clients	Class 1	EUR 50,000	A description of the execution policy, Article 62(2)(p)
Placing of crypto-assets	Class 1	EUR 50,000	No extra item; the conduct duties sit in Article 79
Reception and transmission of orders on behalf of clients	Class 1	EUR 50,000	No extra item; the conduct duties sit in Article 80
Providing advice on crypto-assets	Class 1	EUR 50,000	Proof the individuals advising have the necessary knowledge and expertise, Article 62(2)(q)
Providing portfolio management of crypto-assets	Class 1	EUR 50,000	Proof the individuals managing portfolios have the necessary knowledge and expertise, Article 62(2)(q)
Providing transfer services for crypto-assets on behalf of clients	Class 1	EUR 50,000	Information on the manner in which the transfer services will be provided, Article 62(2)(r)

MiCA sets three capital classes for crypto-asset service providers: EUR 50,000 for class 1 services, EUR 125,000 once custody or exchange is added, and EUR 150,000 once a trading platform is operated (Annex IV to Regulation (EU) 2023/1114).
A CASP application must contain the 19 information items in Article 62(2), and prove the absence of criminal convictions and financial services, insolvency, AML, fraud or professional liability penalties for the management body and every qualifying shareholder (Article 62(3)).
Prudential safeguards are the higher of the Annex IV minimum and one quarter of the preceding year's fixed overheads, held as Common Equity Tier 1 items, a qualifying insurance policy, or a combination of the two (Article 67).

How this was compiled, and how to cite it

Compiled from Regulation (EU) 2023/1114 as published in the Official Journal, read on 15 August 2026: Article 3(1)(16) to (26) for the services, Article 62(2) for the application contents, Article 67 and Annex IV for capital, and Articles 75 to 82 for the conduct duties. Where a class is mixed, Annex IV applies the highest class in the authorisation. Capital is the higher of the Annex IV figure and one quarter of the preceding year's fixed overheads.

Cite this page

“MiCA CASP authorisation: class, capital and documents by service”, CASP Checklist, https://caspchecklist.com/ (updated 2026-10-30). Compiled from Regulation (EU) 2023/1114 as published in the Official Journal, read on 15 August 2026: Article 3(1)(16) to (26) for the services, Article 62(2) for the application contents, Article 67 and Annex IV for capital, and Articles 75 to 82 for the conduct duties. Where a class is mixed, Annex IV applies the highest class in the authorisation. Capital is the higher of the Annex IV figure and one quarter of the preceding year's fixed overheads.

Worth knowing

Every figure sourced and dated.

CASP business plan and authorisation requirements: the document list

What a MiCA CASP application must contain: the 19 items in Article 62(2), the proofs in Article 62(3), and the detail added by Delegated Regulation (EU) 2025/305.

CASP registration in the EU: one licence, twenty-seven markets

A MiCA CASP authorisation is valid across the Union under Article 59(7), by establishment or freedom to provide services, with no physical presence needed in host states.

CASP capital requirements: Annex IV, fixed overheads and insurance

MiCA Article 67 requires the higher of the Annex IV minimum (EUR 50,000, EUR 125,000 or EUR 150,000) and a quarter of last year's fixed overheads, in CET1 or insurance.

CASP licence in Spain: authorisation by the CNMV

A CASP licence in Spain is the MiCA authorisation granted by the CNMV. Who is on the register, what the file is, and when a Spanish licence is not needed.

CASP licence in Portugal: Banco de Portugal and the CMVM

A CASP licence in Portugal is the MiCA authorisation. Law No 69/2025 splits the supervision between Banco de Portugal and the CMVM; here is the split.

Questions, answered directly

What is a CASP under MiCA?

A crypto-asset service provider: a legal person or other undertaking providing one or more of the ten crypto-asset services in Article 3(1)(16) to clients professionally. It must be allowed to do so under Article 59 of Regulation (EU) 2023/1114.

What does a CASP need to get authorised?

An EU registered office with effective management in the Union and a Union-resident director. Prudential safeguards meeting Article 67, and a fit and proper management body and qualifying shareholders. And an application with the 19 items in Article 62(2) plus the service-specific policies for its services.

How long does CASP authorisation take?

The competent authority acknowledges receipt within 5 working days and tests completeness within 25. It decides within 40 working days of a complete application, with one suspension of up to 20 working days for further information (Article 63).

Which crypto-asset services need the highest capital?

Operating a trading platform. It puts the authorisation in class 3 of Annex IV at EUR 150,000. Custody and exchange sit in class 2 at EUR 125,000, and the brokerage, advisory and transfer services in class 1 at EUR 50,000.

Do I need a separate licence in each EU country?

No. One authorisation covers the Union under Article 59(7), through establishment or the freedom to provide services, with no physical presence required in a host member state. Article 65 handles the cross-border notification between authorities.

Is there a simplified route for firms that already hold an EU licence?

Yes, but it is a notification rather than an authorisation. Article 60 lets banks, investment firms, market operators, CSDs, e-money institutions, UCITS management companies and AIFMs notify 40 working days ahead, for services equivalent to their existing permissions only.

Sources

This site's own datasets, every figure quoted from its source and dated:

The Authorised Casp Register carries 2 published figures read from 2 sources' own pages, under different breakdowns, so no one range is stated, read 11 November 2026.
The Casp Authorisation Dossier carries 5 published figures read from 1 source's own page, from 2 to 10 year, read 7 November 2026.
The median published figure in the Casp Licensing Adviser Fees is 49,950 EUR across 2 sources' own pages (range 19,900 to 80,000 EUR), read 11 November 2026.
The Casp National Authority Requirements carries 1 published figure read from 1 source's own page, from 40 to 40 working day, read 11 November 2026.

Know your class before you draft anything

Four questions gives you the Annex IV class, the capital and the document list.

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