EU Regulators & Authorities
Federal Financial Supervisory Authority (Germany) (BaFin)
Germany NCA for MiCA — applies banking-grade supervisory standards to CASP authorisation, single-supervisor model.
Definition
BaFin is the German federal financial supervisor — supervises banks, insurance, securities, and now MiCA CASPs. The single-supervisor model produces administrative simplicity but the bar is uniformly high. Heaviest substance requirements in the EU; longest typical timelines.