Advice on crypto-assets
A personalised recommendation about a crypto-asset transaction or service needs a CASP authorisation under MiCA Article 3(1)(16)(h) and 3(1)(24). Before giving that recommendation, the firm has to assess suitability, gauge the client's risk tolerance and disclose any conflicts of interest. The authorisation then passports across every member state.
Definition
Giving personalised recommendations to a client about transactions in crypto-assets or the use of crypto-asset services.
- MiCA, Art. 3(1)(16)(h) and 3(1)(24): official text
Which licence you need
Licence families that typically permit this activity:
- CASP · Cyprus
Notification by financial entities providing crypto-asset services
Notification by financial entities providing crypto-asset services under MiCAR Article 60CySEC
- CASP · Cyprus
Crypto-Asset Service Provider (CASP) authorisation
Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63CySEC · capital EUR 50,000
- CASP · Czech Republic
Crypto-Asset Service Provider authorisation
Crypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll.CNB · capital EUR 50,000
- VASP · Dubai (VARA)
Virtual Asset Advisory Services Licence
VARA · capital AED 100,000
- CASP · Estonia
Authorisation to operate as a crypto-asset service provider
Authorisation to operate as a crypto-asset service provider under MiCAFI
- CASP · France
Crypto-asset service provider authorization
Crypto-asset service provider authorization under EU MiCA RegulationAMF
- CASP · Germany
Crypto-asset service provider licence
BaFin
- CASP · Ireland
Crypto-Asset Service Provider Authorisation
CBI
- CASP · Italy
Crypto-asset service provider (CASP) authorization
CONSOB
- CASP · Latvia
Crypto-asset service provider licence
Crypto-asset service provider licence under MiCALB · capital EUR 50,000
- CASP · Lithuania
Crypto-asset service provider licence
LB · capital EUR 50,000
- CASP · Luxembourg
Crypto-asset service provider authorisation
Crypto-asset service provider authorisation under MiCA RegulationCSSF
- CASP · Malta
Crypto-Asset Service Provider authorisation
Crypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114MFSA · capital EUR 50,000
- CASP · Netherlands
Crypto-Asset Service Provider (CASP) authorisation
Crypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)AFM · capital EUR 50,000
- CASP · Poland
Crypto-Asset Service Provider authorization
Crypto-Asset Service Provider authorization under MiCAKNF · capital EUR 50,000
- CASP · Slovakia
Crypto-asset service provider licence
Crypto-asset service provider licence under MiCANBS · capital EUR 50,000
- CASP · Spain
Crypto-asset service provider authorization
CNMV
Where it can be licensed
Frequently asked questions
Does publishing general market research or newsletters count as regulated crypto advice?
No. Newsletters, educational content and general market commentary aimed at the public are not personalised advice. The advice rules switch on only when a recommendation is built around one client's own circumstances, financial position or investment objectives.
What suitability assessments must an authorised crypto adviser conduct?
The adviser has to assess the client's knowledge and experience with crypto-assets, their financial situation, their capacity for loss and their risk tolerance. If the asset turns out unsuitable, or the client will not give enough information to judge that, the firm must not recommend the transaction.
Sources
- MiCA Art. 3(1)(16)(h) and 3(1)(24) · retrieved 2026-09-24
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