Jurisdiction guides
Crypto-licensing guides, jurisdiction by jurisdiction
In-depth practitioner guides to MiCA CASP authorisation in the EU’s active jurisdictions — the regulator, the timeline, the capital, the substance expectations, and the pitfalls. For a scored comparison across twelve EU and non-EU jurisdictions, use the index and finder below.
CY Cyprus
Cyprus Securities and Exchange Commission (CySEC)
- Timeline
- 5-7 months
- Capital
- €50,000 — €150,000
Cyprus runs an operationally efficient MiCA CASP regime with 5-7 month timelines under CySEC supervision. Application fees are among the lowest in the EU. Subst…
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CZ Czech Republic
Czech National Bank (Česká národní banka)
- Timeline
- 6-8 months
- Capital
- €50,000 — €150,000
The Czech National Bank assumed crypto-asset supervision from the Trade Licensing Office on 1 January 2026, materially raising the bar of the Czech regime. Pre-…
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EE Estonia
Financial Supervision Authority (Finantsinspektsioon)
- Timeline
- 5-7 months
- Capital
- €50,000 — €150,000
Estonia retired its 2017-era VASP register in early 2026 and migrated to MiCA CASP supervision under stricter substance review than peers. 5-7 month authorisati…
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IE Ireland
Central Bank of Ireland (CBI)
- Timeline
- 10-14 months
- Capital
- €50,000 — €150,000 (with CBI additional own-funds expectations)
Ireland is the premium-reputation EU jurisdiction for MiCA CASP authorisation. CBI applies the same supervisory discipline used for credit institutions and paym…
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LT Lithuania
Bank of Lithuania (Lietuvos bankas)
- Timeline
- 4-6 months
- Capital
- €50,000 — €150,000
Lithuania is the fastest mid-tier EU jurisdiction for MiCA CASP authorisation in 2026, with the Bank of Lithuania running 4-6 month review cycles for properly p…
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MT Malta
Malta Financial Services Authority (MFSA)
- Timeline
- 7-10 months
- Capital
- €50,000 — €150,000 (with MFSA gold-plate on certain Class 3 setups)
Malta applies the substance discipline developed under the 2018 VFA Act to MiCA CASP files. Multiple transitional refusals on substance grounds in 2026. Best fo…
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NL Netherlands
Autoriteit Financiële Markten (AFM) + De Nederlandsche Bank (DNB)
- Timeline
- 6-9 months for clean files
- Capital
- €50,000 — €150,000 under MiCA Annex IV
Netherlands is one of the premier Western EU MiCA jurisdictions. AFM and DNB operate joint supervision applying banking-grade rigour. Amsterdam-licensed CASPs h…
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SG Singapore
Monetary Authority of Singapore (MAS)
- Timeline
- 6-12 months for MPI; longer for files with substance or fitness gaps
- Capital
- SGD 250,000 (MPI base capital) — higher for specific activities
Singapore is the premier Asia-Pacific crypto licensing jurisdiction. MAS Major Payment Institution licence for Digital Payment Token Service is the standard cre…
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GB United Kingdom
Financial Conduct Authority (FCA)
- Timeline
- 9-15 months for MLR registration; 12-18 months for full Cryptoasset Regulatory Framework
- Capital
- Variable — FCA case-by-case; emerging framework includes minimum capital tied to activity
UK crypto licensing operates through the FCA — currently cryptoasset firm registration under MLR 2017 and transitioning to the emerging Cryptoasset Regulatory F…
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US United States
SEC, CFTC, FinCEN, State regulators (NYDFS for NY BitLicense)
- Timeline
- 12-36 months across federal + state stack
- Capital
- Varies by state ($25K-$500K money-transmitter bonds + NYDFS capital)
US crypto licensing is the most fragmented major-jurisdiction framework in the world — federal FinCEN MSB registration, state money-transmitter licences across …
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