Regulated activity

Placing of crypto-assets

Marketing crypto-assets to buyers on an issuer's behalf needs a CASP authorisation under MiCA Article 3(1)(16)(f) and Article 3(1)(22). The white paper must be published before marketing starts, and allocation and compensation are subject to conflict-of-interest rules. Once authorised, the intermediary can distribute the same token issuance across the EU single market.

Last verified 2026-09-24Markdown · Data (CC BY 4.0)
Placing of crypto-assets: regulated activityMiCA

Definition

Marketing crypto-assets to purchasers on behalf of or for the account of the offeror or a related party.

Which licence you need

Licence families that typically permit this activity:

Where it can be licensed

Jurisdictions where placing of crypto-assets can be licensedCyprusCzech RepublicEstoniaFranceGermanyIrelandItalyLatviaLithuaniaLuxembourgNetherlandsPolandSlovakiaSpainMalta
Licences in the Atlas that permit this activity
EU/EEA passportDomestic
Cyprus: Notification by financial entities providing crypto-asset services✓
Cyprus: Crypto-Asset Service Provider (CASP) authorisation✓
Czech Republic: Crypto-Asset Service Provider authorisation✓
Estonia: Authorisation to operate as a crypto-asset service provider✓
France: Crypto-asset service provider authorization✓
Germany: Crypto-asset service provider licence✓
Ireland: Crypto-Asset Service Provider Authorisation✓
Italy: Crypto-asset service provider (CASP) authorization✓
Latvia: Crypto-asset service provider licence✓
Lithuania: Crypto-asset service provider licence✓
Luxembourg: Crypto-asset service provider authorisation✓
Malta: Crypto-Asset Service Provider authorisation✓
Netherlands: Crypto-Asset Service Provider (CASP) authorisation✓
Poland: Crypto-Asset Service Provider authorization✓
Slovakia: Crypto-asset service provider licence✓
Spain: Crypto-asset service provider authorization✓

Frequently asked questions

How does crypto placing differ from operating an initial exchange offering?

Placing markets and distributes tokens straight to buyers on the issuer's behalf, with no obligation to host secondary trading afterwards. An exchange offering goes further. It combines placing with an immediate listing on a trading platform, which needs its own platform permission on top of the placing authorisation.

Are token launchpads required to hold a CASP licence for placing?

Yes. A launchpad marketing newly issued tokens to investors on a project team's behalf is placing in MiCA's sense. Once the platform takes purchase orders, collects funds or earns a commission from the issuer, it needs CASP authorisation before it can target buyers in the EU.

Last verified 2026-09-24Author Danil Marmysh, Founder & CEO, ProtegraReviewed by Anastasia Sidorenkova, Head of Licensing, ProtegraReport an errorReference information, not legal advice.

Sources

  1. MiCA Art. 3(1)(16)(f) and 3(1)(22) · retrieved 2026-09-24

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