Operating a crypto-asset trading platform
Running a multilateral venue that matches buyers and sellers of crypto-assets needs a crypto-asset service provider (CASP) authorisation under MiCA Article 3(1)(16)(b) and 3(1)(18). One EU authorisation covers the whole bloc, since the licence passports to every member state. Elsewhere, the operator needs a virtual asset service provider (VASP) licence or a multilateral trading facility authorisation instead.
Definition
Managing a multilateral system that brings together buying and selling interests in crypto-assets so that contracts are concluded.
- MiCA, Art. 3(1)(16)(b) and 3(1)(18): 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 Exchange Services Licence
VARA · capital AED 1,500,000
- 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
Can a crypto trading platform deal against its own proprietary capital?
No. MiCA bars a trading platform operator from dealing on its own account on the venue it runs. Its order-matching rules and fee structure must stay transparent and non-discretionary, so no client trade competes against the platform's own book.
What market surveillance systems are mandatory for crypto trading platforms?
The platform needs software that can detect and stop market abuse, insider dealing and order manipulation as it happens. Suspicious orders and transactions go to the competent authority, and the operator keeps a public rulebook and monitors every executed trade on an ongoing basis.
Sources
- MiCA Art. 3(1)(16)(b) and 3(1)(18) · retrieved 2026-09-24
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