Notification by financial entities providing crypto-asset services (Cyprus)
The MiCAR Article 60 notification lets a CIF, UCITS manager, AIFM, or market operator already authorised by CySEC add crypto-asset services without a full CASP licence. It files a 40-working-day advance notice covering its programme of operations and controls, pays a EUR 10,000 one-off fee, and keeps the own-funds and change-of-control regime of its existing authorisation rather than a new MiCA one.
At a glance
| Official name | Notification by financial entities providing crypto-asset services under MiCAR Article 601 |
|---|---|
| Local name | Not published separately in Greek; CySEC's MiCAR pages are English-only |
| Also known as | CASP notification (MiCAR Article 60) · MiCAR Art. 60 notification · Article 60 notification to CySEC · Cyprus MiCA notification |
| Issued by | Cyprus Securities and Exchange Commission |
| Jurisdiction | Cyprus |
| Licence family | Crypto-asset service provider (MiCA CASP) |
| Legal basis | Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)2 Regulation (EU) 2023/1114, Article 60 ("Crypto-asset services provided by certain financial entities"), which lets a credit institution, central securities depository, investment firm, e-money institution, UCITS management company, AIFM or market operator provide crypto-asset services by notification instead of applying for a stand-alone Article 63 authorisation3 |
| Passporting | EU/EEA passport available |
| Minimum capital | No separate MiCA own-funds requirement applies. Article 60(10) exempts these notifying entities from Articles 62, 63, 64, 67, 83 and 84 of MiCA (the authorisation-procedure, own-funds and qualifying-holdings articles for a full CASP), so the entity keeps meeting the own-funds requirement of its existing authorisation (e.g. a CIF's IFR/IFD capital, an e-money institution's EMD2 own funds, or a UCITS management company/AIFM's own-funds rules) instead of a MiCA-specific minimum.3 |
| Application fee | EUR 10,000 one-off notification fee for authorized central securities depositories, CIFs, market operators, and UCITS/AIF management companies initiating crypto-asset services under Article 604 |
| Statutory decision time | The financial entity must notify the information required under Article 60(7) to CySEC (its home-state competent authority) at least 40 working days before providing the crypto-asset services for the first time. If CySEC finds the notification incomplete, the period is suspended until a complete notification is filed, so services cannot start until 40 complete working days have run.3 |
| Public register | official register1 |
| Current holders | 71 |
What it lets you do
| Custody and administration of crypto-assets | Safekeeping or controlling crypto-assets, or the means of access to them such as private keys, on behalf of clients. |
|---|---|
| Operating a crypto-asset trading platform | Managing a multilateral system that brings together buying and selling interests in crypto-assets so that contracts are concluded. |
| Exchange of crypto-assets for funds | Buying or selling crypto-assets against fiat money using the provider's own capital. |
| Exchange of crypto-assets for other crypto-assets | Concluding contracts with clients to swap one crypto-asset for another using the provider's own capital. |
| Execution of orders for crypto-assets on behalf of clients | Concluding agreements to buy or sell crypto-assets on behalf of clients, including subscribing to offers. |
| Placing of crypto-assets | Marketing crypto-assets to purchasers on behalf of or for the account of the offeror or a related party. |
| Reception and transmission of orders for crypto-assets | Receiving a client's order to buy or sell crypto-assets and passing it to a third party for execution. |
| Advice on crypto-assets | Giving personalised recommendations to a client about transactions in crypto-assets or the use of crypto-asset services. |
| Portfolio management of crypto-assets | Managing portfolios that include crypto-assets on a discretionary, client-by-client basis under a mandate. |
| Transfer services for crypto-assets | Moving crypto-assets on behalf of a client from one distributed-ledger address or account to another. |
Where it is valid
Requirements
| Requirement | What is needed | Legal reference |
|---|---|---|
| Capital and people assessed | ||
| Minimum capital | No separate MiCA own-funds requirement applies. Article 60(10) exempts these notifying entities from Articles 62, 63, 64, 67, 83 and 84 of MiCA (the authorisation-procedure, own-funds and qualifying-holdings articles for a full CASP), so the entity keeps meeting the own-funds requirement of its existing authorisation (e.g. a CIF's IFR/IFD capital, an e-money institution's EMD2 own funds, or a UCITS management company/AIFM's own-funds rules) instead of a MiCA-specific minimum.3 | Article 60(10) Articles 62, 63, 64, 67, 83 and 84 of MiCA |
| Ongoing own funds | Ongoing own funds continue to be supervised under the entity's existing sectoral prudential regime (IFR/IFD for a CIF, EMD2 for an e-money institution, AIFMD/UCITS for a fund manager), not under MiCA Article 67, because Article 60(10) disapplies Article 67 for Article 60 notifiers.3 | MiCA Article 67 Article 60(10) Article 67 |
| Who is assessed | No new MiCA-specific fit-and-proper review is triggered by an Article 60 notification: the management body and qualifying shareholders were already vetted when the entity obtained its underlying authorisation as a CIF, credit institution, e-money institution, UCITS management company or AIFM. Article 60(10) also disapplies Article 83 (MiCA's own qualifying-holdings regime) for these notifiers, so ownership changes are assessed under the entity's existing sectoral change-of-control rules instead.3 | Article 60 Article 60(10) Article 83 |
| Substance and people | ||
| ICT and DORA | The Article 60(7) notification file must include a programme of operations describing the intended crypto-asset services, internal control mechanisms and AML/CFT procedures, a risk-assessment framework, and documentation of the ICT systems used.3 | Article 60(7) |
| Client assets | Depending on which specific services are notified, the entity must also submit client-asset segregation and custody policies (custody), trading-platform rules and market-abuse detection arrangements (operating a trading platform), or execution/pricing policies and transfer-service methodology (execution, placing or transfer services).3 | |
| Conditions to keep the licence | ||
| Management and people | Only entities already authorised under their own EU sectoral legislation: credit institutions, central securities depositories, MiFID II investment firms, EMD2 e-money institutions, UCITS management companies, AIFMs, and market operators: may use the Article 60 notification route; any other applicant must seek full CASP authorisation under Article 63 instead.3 | Article 60 Article 63 |
| Withdrawal | The entity may not start providing the notified crypto-asset service(s) until the 40-working-day notice period has run in full against a complete notification; if the underlying sectoral authorisation is withdrawn, the crypto-asset services notified under Article 60 fall away with it.3 | Article 60 |
Cost
How long it takes
Statutory: The financial entity must notify the information required under Article 60(7) to CySEC (its home-state competent authority) at least 40 working days before providing the crypto-asset services for the first time. If CySEC finds the notification incomplete, the period is suspended until a complete notification is filed, so services cannot start until 40 complete working days have run.3. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Not a stand-alone licence: the Article 60 notification is only an extension of the entity's underlying sectoral authorisation (CIF, credit institution, e-money institution, UCITS management company or AIFM). It cannot be sold or assigned separately from that authorisation; a change of control is handled entirely under the underlying licence's own regime (e.g. Sections 12-13 of Law 87(I)/2017 for a CIF), since Article 60(10) disapplies MiCA's own Article 83 qualifying-holdings process for these notifiers.3
Prior notification with an objection period. Any natural or legal person proposing to acquire or increase, directly or indirectly, a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% in a CIF, AIFM, or CASP, or to achieve control making it a subsidiary, must submit prior written notification to CySEC under Sections 12 and 13 of Law 87(I)/2017 and MiCA Article 83. CySEC acknowledges receipt within two working days and has a statutory assessment period of 60 working days to oppose the acquisition based on reputation, financial soundness, AML risks, and fit-and-proper criteria. The assessment period may be interrupted once by up to 20 working days (or 30 working days for non-EU entities) to request additional information. If CySEC does not object in writing before expiry, the transaction is deemed approved. Closing without CySEC non-opposition suspends voting rights and risks statutory penalties.5
Ready-made companies holding this licence: see verified positions.
CASP in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Cyprus | Notification by financial entities providing crypto-asset servicesNotification by financial entities providing crypto-asset services under MiCAR Article 60 | CySEC | n/a | EUR 10,000 | ~1.8 mo |
| Cyprus | Crypto-Asset Service Provider (CASP) authorisationCrypto-Asset Service Provider (CASP) authorisation under MiCAR Article 63 | CySEC | EUR 50,000 | EUR 5,000 | ~1.8 mo |
| Czech Republic | Crypto-Asset Service Provider authorisationCrypto-Asset Service Provider authorisation under MiCA and Act No. 31/2025 Coll. | CNB | EUR 50,000 | CZK 20,000 | ~3 mo |
| Estonia | Authorisation to operate as a crypto-asset service providerAuthorisation to operate as a crypto-asset service provider under MiCA | FI | n/a | EUR 3,000 | ~3.9 mo |
| France | Crypto-asset service provider authorizationCrypto-asset service provider authorization under EU MiCA Regulation | AMF | n/a | n/a | ~1.8 mo |
| Germany | Crypto-asset service provider licence | BaFin | n/a | n/a | ~1.8 mo |
| Ireland | Crypto-Asset Service Provider Authorisation | CBI | n/a | n/a | ~1.8 mo |
| Italy | Crypto-asset service provider (CASP) authorization | CONSOB | n/a | EUR 20,000 | ~1.8 mo |
| Latvia | Crypto-asset service provider licenceCrypto-asset service provider licence under MiCA | LB | EUR 50,000 | EUR 2,500 | ~3 mo |
| Lithuania | Crypto-asset service provider licence | LB | EUR 50,000 | EUR 2,425 | ~3 mo |
| Luxembourg | Crypto-asset service provider authorisationCrypto-asset service provider authorisation under MiCA Regulation | CSSF | n/a | EUR 30,000 | ~1.8 mo |
| Malta | Crypto-Asset Service Provider authorisationCrypto-Asset Service Provider authorisation under Regulation (EU) 2023/1114 | MFSA | EUR 50,000 | EUR 10,000 | ~1.8 mo |
| Netherlands | Crypto-Asset Service Provider (CASP) authorisationCrypto-Asset Service Provider (CASP) authorisation under Regulation (EU) 2023/1114 (MiCA) | AFM | EUR 50,000 | EUR 200 | ~3 mo |
| Poland | Crypto-Asset Service Provider authorizationCrypto-Asset Service Provider authorization under MiCA | KNF | EUR 50,000 | n/a | ~3 mo |
| Slovakia | Crypto-asset service provider licenceCrypto-asset service provider licence under MiCA | NBS | EUR 50,000 | EUR 1,700 | ~3 mo |
| Spain | Crypto-asset service provider authorization | CNMV | n/a | n/a | ~1.8 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Markets in Crypto-Assets Regulation: Regulation (EU) 2023/1114
Getting this licence
Protegra handles this licence end to end: CASP license in Cyprus: process, timeline and our fee.
Frequently asked questions
Who can use the MiCA Article 60 notification instead of getting a full CASP licence in Cyprus?
Only financial entities already authorised under EU sectoral law: Cyprus Investment Firms, credit institutions, e-money institutions, UCITS management companies, AIFMs, central securities depositories and market operators. A firm without one of these underlying authorisations must instead apply for full CASP authorisation from CySEC under MiCA Article 63.
How long before I can start offering crypto-asset services under Article 60?
The entity must notify CySEC at least 40 working days before providing the services for the first time. If CySEC finds the notification incomplete, that 40-working-day clock is suspended until it is complete, so an incomplete file delays the start date rather than triggering a refusal.
Does an Article 60 notification need its own capital or own-funds top-up?
No. Article 60(10) exempts these notifiers from MiCA's own-funds article (Article 67) along with the authorisation and qualifying-holdings articles (62-64, 83-84); the entity simply continues to meet the own-funds requirement of its existing CIF, EMI, UCITS or AIFM authorisation.
What does CySEC charge for an Article 60 notification?
CySEC's fee schedule (Directive DI 73-2009-04) sets a one-off notification fee of EUR 10,000. In addition, under Paragraph 6 and Annex I, notifiers must pay an annual fee comprising a fixed fee per crypto service (EUR 5,000 to EUR 20,000) plus a turnover-based surcharge above EUR 500,000.
What happens to the crypto-asset services if the entity's CIF (or other underlying) licence is withdrawn?
The crypto-asset services notified under Article 60 are not a separate licence; they exist only as an extension of the underlying authorisation. If CySEC withdraws that authorisation, the crypto-asset services notified under Article 60 fall away with it.
How many firms currently use the Article 60 route in Cyprus?
CySEC's public register listed 7 financial entities notified under Article 60 as of 24 September 2026, alongside 16 firms holding full CASP authorisation under Article 63.
Sources
- cysec.gov.cy: Notification (Article 60) · retrieved 2026-09-24
- EUR-Lex: CELEX 32023R1114 · retrieved 2026-09-24
- esma.europa.eu: article 60 provision crypto asset services · retrieved 2026-09-24
- cysec.gov.cy · retrieved 2026-09-29
- cylaw.org: full · secondary · retrieved 2026-09-24
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