MiCA Defined Terms
Own Funds
Common Equity Tier 1 capital a CASP must hold continuously — the higher of static class floor or 25% of fixed overheads.
Definition
CASP own funds under MiCA Article 67 are the prudential capital the CASP must maintain at all times: the higher of (a) a permanent minimum capital floor by service class (EUR 50k / 125k / 150k) or (b) one-quarter of the previous year's fixed overheads. Must be CET1 quality per CRR Article 26.
Regulatory citation