# Custody and administration of crypto-assets

Source page: https://protegra.io/licensing/activities/crypto-custody/

Safekeeping or controlling crypto-assets or private keys on behalf of clients requires a crypto-asset service provider (CASP) authorisation in the EU under MiCA Article 3(1)(16)(a) and 3(1)(17). Authorised CASPs benefit from EU-wide passporting across the EEA. Outside the European Union, this activity falls under virtual asset service provider (VASP) regimes or national trust and custody frameworks.

## Definition

Safekeeping or controlling crypto-assets, or the means of access to them such as private keys, on behalf of clients.

- MiCA, Art. 3(1)(16)(a) and 3(1)(17): [official text](https://eur-lex.europa.eu/eli/reg/2023/1114/oj)

## Which licence you need

Licence families that typically permit this activity:

- [Crypto-asset service provider (MiCA CASP)](https://protegra.io/licensing/licences/casp-mica/)
- [Virtual asset service provider (non-MiCA)](https://protegra.io/licensing/licences/vasp/)

- [IF · British Virgin IslandsInvestment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments)BVI FSC](https://protegra.io/licensing/licences/investment-firm/bvi/)
- [VASP · Cayman IslandsVirtual Asset Service Provider Licence (custody or trading platform services, Phase 2)CIMA](https://protegra.io/licensing/licences/vasp/cayman-islands-licence/)
- [CASP · CyprusNotification by financial entities providing crypto-asset services under MiCAR Article 60CySEC](https://protegra.io/licensing/licences/casp-mica/cyprus-art60/)
- [CASP · CyprusCrypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63CySEC](https://protegra.io/licensing/licences/casp-mica/cyprus/)
- [CASP · Czech RepublicCrypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll. (povolení k činnosti poskytovatele služeb souvisejících s kryptoaktivy)CNB](https://protegra.io/licensing/licences/casp-mica/czech-republic/)
- [VASP · Dubai (VARA)Virtual Asset Custody Services LicenceVARA](https://protegra.io/licensing/licences/vasp/dubai-custody/)
- [CASP · EstoniaAuthorisation to operate as a crypto-asset service provider under MiCAFI](https://protegra.io/licensing/licences/casp-mica/estonia/)
- [CASP · FrancePrestataire de services sur crypto-actifs (PSCA) / Crypto-asset service provider authorization under EU MiCA RegulationAMF](https://protegra.io/licensing/licences/casp-mica/france/)
- [CASP · GermanyCrypto-asset service provider licence (Zulassung als Anbieter von Kryptowerte-Dienstleistungen nach Art. 59 MiCAR / KMAG)BaFin](https://protegra.io/licensing/licences/casp-mica/germany/)
- [VASP · GermanyQualified crypto custody licence (Erlaubnis für das qualifizierte Kryptoverwahrgeschäft nach § 1 Absatz 1a Satz 2 Nummer 6 KWG)BaFin](https://protegra.io/licensing/licences/vasp/germany-custody/)
- [CASP · IrelandCrypto-Asset Service Provider AuthorisationCBI](https://protegra.io/licensing/licences/casp-mica/ireland/)
- [CASP · ItalyFornitore di servizi per le cripto-attività / Crypto-asset service provider (CASP) authorizationCONSOB](https://protegra.io/licensing/licences/casp-mica/italy/)
- [CASP · LatviaCrypto-asset service provider licence under MiCALB](https://protegra.io/licensing/licences/casp-mica/latvia/)
- [CASP · LithuaniaCrypto-asset service provider licenceLB](https://protegra.io/licensing/licences/casp-mica/lithuania/)
- [CASP · LuxembourgCrypto-asset service provider authorisation under MiCA RegulationCSSF](https://protegra.io/licensing/licences/casp-mica/luxembourg/)
- [CASP · MaltaCrypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114MFSA](https://protegra.io/licensing/licences/casp-mica/malta/)
- [CASP · NetherlandsCrypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)AFM](https://protegra.io/licensing/licences/casp-mica/netherlands/)
- [CASP · PolandCrypto-Asset Service Provider authorization under MiCA (zezwolenie na świadczenie usług w zakresie kryptoaktywów)KNF](https://protegra.io/licensing/licences/casp-mica/poland/)
- [CASP · SlovakiaCrypto-asset service provider licence under MiCA (povolenie na činnosť poskytovateľa služieb kryptoaktív)NBS](https://protegra.io/licensing/licences/casp-mica/slovakia/)
- [CASP · SpainProveedor de servicios de criptoactivos (PSC) / Crypto-asset service provider authorizationCNMV](https://protegra.io/licensing/licences/casp-mica/spain/)

## Where it can be licensed

| | EU/EEA passport | Domestic |
| --- | --- | --- |
| [British Virgin Islands: Investment Business Licence (Categories 1-4: dealing, managing, advising, custody/administration of investments)](https://protegra.io/licensing/licences/investment-firm/bvi/) | | ✓ |
| [Cayman Islands: Virtual Asset Service Provider Licence (custody or trading platform services, Phase 2)](https://protegra.io/licensing/licences/vasp/cayman-islands-licence/) | | ✓ |
| [Cyprus: Notification by financial entities providing crypto-asset services under MiCAR Article 60](https://protegra.io/licensing/licences/casp-mica/cyprus-art60/) | ✓ | |
| [Cyprus: Crypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63](https://protegra.io/licensing/licences/casp-mica/cyprus/) | ✓ | |
| [Czech Republic: Crypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll. (povolení k činnosti poskytovatele služeb souvisejících s kryptoaktivy)](https://protegra.io/licensing/licences/casp-mica/czech-republic/) | ✓ | |
| [Dubai (VARA): Virtual Asset Custody Services Licence](https://protegra.io/licensing/licences/vasp/dubai-custody/) | | ✓ |
| [Estonia: Authorisation to operate as a crypto-asset service provider under MiCA](https://protegra.io/licensing/licences/casp-mica/estonia/) | ✓ | |
| [France: Prestataire de services sur crypto-actifs (PSCA) / Crypto-asset service provider authorization under EU MiCA Regulation](https://protegra.io/licensing/licences/casp-mica/france/) | ✓ | |
| [Germany: Crypto-asset service provider licence (Zulassung als Anbieter von Kryptowerte-Dienstleistungen nach Art. 59 MiCAR / KMAG)](https://protegra.io/licensing/licences/casp-mica/germany/) | ✓ | |
| [Germany: Qualified crypto custody licence (Erlaubnis für das qualifizierte Kryptoverwahrgeschäft nach § 1 Absatz 1a Satz 2 Nummer 6 KWG)](https://protegra.io/licensing/licences/vasp/germany-custody/) | | ✓ |
| [Ireland: Crypto-Asset Service Provider Authorisation](https://protegra.io/licensing/licences/casp-mica/ireland/) | ✓ | |
| [Italy: Fornitore di servizi per le cripto-attività / Crypto-asset service provider (CASP) authorization](https://protegra.io/licensing/licences/casp-mica/italy/) | ✓ | |
| [Latvia: Crypto-asset service provider licence under MiCA](https://protegra.io/licensing/licences/casp-mica/latvia/) | ✓ | |
| [Lithuania: Crypto-asset service provider licence](https://protegra.io/licensing/licences/casp-mica/lithuania/) | ✓ | |
| [Luxembourg: Crypto-asset service provider authorisation under MiCA Regulation](https://protegra.io/licensing/licences/casp-mica/luxembourg/) | ✓ | |
| [Malta: Crypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114](https://protegra.io/licensing/licences/casp-mica/malta/) | ✓ | |
| [Netherlands: Crypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)](https://protegra.io/licensing/licences/casp-mica/netherlands/) | ✓ | |
| [Poland: Crypto-Asset Service Provider authorization under MiCA (zezwolenie na świadczenie usług w zakresie kryptoaktywów)](https://protegra.io/licensing/licences/casp-mica/poland/) | ✓ | |
| [Slovakia: Crypto-asset service provider licence under MiCA (povolenie na činnosť poskytovateľa služieb kryptoaktív)](https://protegra.io/licensing/licences/casp-mica/slovakia/) | ✓ | |
| [Spain: Proveedor de servicios de criptoactivos (PSC) / Crypto-asset service provider authorization](https://protegra.io/licensing/licences/casp-mica/spain/) | ✓ | |

## Frequently asked questions

### Does providing non-custodial wallet software require a custody licence?

Purely non-custodial or self-hosted software providers that never hold private keys or exercise control over user funds generally do not require a custody licence. However, if the developer retains co-signing ability, private keys or secondary recovery authority, financial regulators categorise the service as regulated custody.

### Can a crypto custodian hold client tokens in omnibus accounts?

Yes, custodians may pool assets in omnibus wallets under MiCA, provided they maintain separate accounting ledgers that guarantee each client's entitlements. Regulatory standards require strict segregation of proprietary assets from client funds and continuous reconciliation to safeguard client holdings in the event of custodian insolvency.

## Sources

1. [MiCA Art. 3(1)(16)(a) and 3(1)(17)](https://eur-lex.europa.eu/eli/reg/2023/1114/oj): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.