# Operating a crypto-asset trading platform Source page: https://protegra.io/licensing/activities/crypto-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](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/) - [CASP · CyprusNotification by financial entities providing crypto-asset servicesNotification 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) authorisationCrypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63CySEC · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/cyprus/) - [CASP · Czech RepublicCrypto-Asset Service Provider authorisationCrypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll.CNB · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/czech-republic/) - [VASP · Dubai (VARA)Virtual Asset Exchange Services LicenceVARA · capital AED 1,500,000](https://protegra.io/licensing/licences/vasp/dubai-exchange/) - [CASP · EstoniaAuthorisation to operate as a crypto-asset service providerAuthorisation to operate as a crypto-asset service provider under MiCAFI](https://protegra.io/licensing/licences/casp-mica/estonia/) - [CASP · FranceCrypto-asset service provider authorizationCrypto-asset service provider authorization under EU MiCA RegulationAMF](https://protegra.io/licensing/licences/casp-mica/france/) - [CASP · GermanyCrypto-asset service provider licenceBaFin](https://protegra.io/licensing/licences/casp-mica/germany/) - [CASP · IrelandCrypto-Asset Service Provider AuthorisationCBI](https://protegra.io/licensing/licences/casp-mica/ireland/) - [CASP · ItalyCrypto-asset service provider (CASP) authorizationCONSOB](https://protegra.io/licensing/licences/casp-mica/italy/) - [CASP · LatviaCrypto-asset service provider licenceCrypto-asset service provider licence under MiCALB · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/latvia/) - [CASP · LithuaniaCrypto-asset service provider licenceLB · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/lithuania/) - [CASP · LuxembourgCrypto-asset service provider authorisationCrypto-asset service provider authorisation under MiCA RegulationCSSF](https://protegra.io/licensing/licences/casp-mica/luxembourg/) - [CASP · MaltaCrypto-Asset Service Provider authorisationCrypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114MFSA · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/malta/) - [CASP · NetherlandsCrypto-Asset Service Provider (CASP) authorisationCrypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA)AFM · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/netherlands/) - [CASP · PolandCrypto-Asset Service Provider authorizationCrypto-Asset Service Provider authorization under MiCAKNF · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/poland/) - [CASP · SlovakiaCrypto-asset service provider licenceCrypto-asset service provider licence under MiCANBS · capital EUR 50,000](https://protegra.io/licensing/licences/casp-mica/slovakia/) - [CASP · SpainCrypto-asset service provider authorizationCNMV](https://protegra.io/licensing/licences/casp-mica/spain/) ## Where it can be licensed | | EU/EEA passport | Domestic | | --- | --- | --- | | [Cyprus: Notification by financial entities providing crypto-asset services](https://protegra.io/licensing/licences/casp-mica/cyprus-art60/) | ✓ | | | [Cyprus: Crypto-Asset Service Provider (CASP) authorisation](https://protegra.io/licensing/licences/casp-mica/cyprus/) | ✓ | | | [Czech Republic: Crypto-Asset Service Provider authorisation](https://protegra.io/licensing/licences/casp-mica/czech-republic/) | ✓ | | | [Dubai (VARA): Virtual Asset Exchange Services Licence](https://protegra.io/licensing/licences/vasp/dubai-exchange/) | | ✓ | | [Estonia: Authorisation to operate as a crypto-asset service provider](https://protegra.io/licensing/licences/casp-mica/estonia/) | ✓ | | | [France: Crypto-asset service provider authorization](https://protegra.io/licensing/licences/casp-mica/france/) | ✓ | | | [Germany: Crypto-asset service provider licence](https://protegra.io/licensing/licences/casp-mica/germany/) | ✓ | | | [Ireland: Crypto-Asset Service Provider Authorisation](https://protegra.io/licensing/licences/casp-mica/ireland/) | ✓ | | | [Italy: Crypto-asset service provider (CASP) authorization](https://protegra.io/licensing/licences/casp-mica/italy/) | ✓ | | | [Latvia: Crypto-asset service provider licence](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](https://protegra.io/licensing/licences/casp-mica/luxembourg/) | ✓ | | | [Malta: Crypto-Asset Service Provider authorisation](https://protegra.io/licensing/licences/casp-mica/malta/) | ✓ | | | [Netherlands: Crypto-Asset Service Provider (CASP) authorisation](https://protegra.io/licensing/licences/casp-mica/netherlands/) | ✓ | | | [Poland: Crypto-Asset Service Provider authorization](https://protegra.io/licensing/licences/casp-mica/poland/) | ✓ | | | [Slovakia: Crypto-asset service provider licence](https://protegra.io/licensing/licences/casp-mica/slovakia/) | ✓ | | | [Spain: Crypto-asset service provider authorization](https://protegra.io/licensing/licences/casp-mica/spain/) | ✓ | | ## 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 1. [MiCA Art. 3(1)(16)(b) and 3(1)(18)](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.