In-depth analysis of MiCA, DORA, and EU crypto regulation — written by the practitioners handling real licence applications every day.
A Programme of Operations can look like another item on the MiCA application checklist. That is how applicants often treat it. They prepare the business plan,…
A crypto firm can submit its MiCA application, answer the first round of questions and still have no clear idea whether it will get a licence. The file may be…
Poland used to be one of Europe’s most active crypto markets. Its virtual-currency register contained 1,841 businesses, ranging from small peer-to-peer operators…
There’s a version of buying crypto that skips the usual steps entirely: no exchange account, no identity check by a company like Coinbase, just one person…
Every other EU member state has a functioning MiCA regime by now. Poland doesn’t. As of September 2026, more than two months after MiCA’s transitional period…
Traditional finance had a decade-long head start on this problem. BaFin was writing algorithmic-decision principles in 2018, and by the time the EU AI Act…
BaFin, the ACPR and De Nederlandsche Bank governed algorithmic decision-making years before the EU AI Act, and MiFID II already reaches AI agents.
The AFM published its MiCA expectations before applications opened. What Dutch CASP licensing really takes: two regulators, real substance, class choice.
Brussels reopened MiCA on 20 May 2026, months after its transition ended, while Brazil writes its first crypto rulebook. What both mean for 2026 plans.
EU regulators judge the AML officer after approval, not only during it. What the MLRO role actually demands, and where firms keep underestimating it.
Crypto accounting is its own discipline: IFRS treats most crypto as intangible assets, and EU DAC8 and CARF reporting rules apply from January 2026.
The EU’s new AML Authority (AMLA) will directly supervise about 40 high-risk firms from 2028, with cross-border crypto businesses squarely in scope.
Latvia, Malta and Slovakia rank as the top EU jurisdictions for a MiCA CASP licence in 2026, compared on cost, regulator access, tax and substance.
Euro stablecoin volume grew about 1,200% under MiCA, yet the sector holds under 0.4% of a global market led by $300 billion in dollar tokens.
MiCA capital requirements run EUR 50,000 to 150,000 by service class, buying EU-wide passporting that US state licensing and offshore hubs cannot match.
MiCA has pushed European banks into crypto: CASP licences, custody platforms, and the 37-bank Qivalis euro stablecoin due to launch in late 2026.
MiCA is one law, but stablecoin regulation in practice varies by national regulator: BaFin enforcement, the AMF deadline, Malta’s MFSA, Poland’s gap.
Bitcoin and Ethereum have no protocol-level freeze switch, while stablecoin custody rests on issuer controls now codified by the GENIUS Act and MiCA.
MiCA’s CASP licence costs are pushing smaller crypto firms from Europe to Latin America, with Brazil emerging as the region’s institutional crypto hub.
PSD3 is not yet EU law; the directly applicable Payment Services Regulation, not the Directive, carries the fraud liability and payee check rules.
Tokenized real-world assets may hit $5.5 trillion by 2030, but legal structure, MiCA and SEC rules decide what a token really gives investors.
Binance withdrew its Greek MiCA licence bid as the EU transition ended on 1 July 2026, showing MiCA applies even to the biggest crypto exchanges.
Canada’s MSB regime is no longer a cheap shortcut: FINTRAC penalties now reach CAD 20 million and registration alone does not prove AML compliance.
A crypto compliance system built rule by rule turns fragile as MiCA, DORA and EU AML obligations stack up; the fix is discipline and clear ownership.
Under MiCA, custody turns on functional control over client assets, not the CASP licence class; Class 2 does not automatically mean non-custody.
KNF’s years of MIP/KIP payment fintech oversight shape Poland’s crypto-asset supervision under MiCA, from governance to CASP operational substance.
Poland has MiCA in force yet no CASP licensing route; with the transitional period ending 1 July 2026, presidential vetoes leave crypto firms exposed.
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