Crypto-Asset Service Provider Authorisation (Ireland)

At a glance

What it lets you do

• Custody and administration of crypto-assets
• Operating a crypto-asset trading platform
• Exchange of crypto-assets for funds
• Exchange of crypto-assets for other crypto-assets
• Execution of orders for crypto-assets on behalf of clients
• Placing of crypto-assets
• Reception and transmission of orders for crypto-assets
• Advice on crypto-assets
• Portfolio management of crypto-assets
• Transfer services for crypto-assets

• 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

How long it takes

Statutory: 40 working days from receipt of a complete application under Article 63(1) of MiCA². 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

Prior notification with an objection period. Direct or indirect acquisition or disposal of qualifying holdings reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or resulting in the firm becoming a subsidiary, requires prior written notification to the Central Bank of Ireland; failure to notify renders the acquisition null and void. The Central Bank conducts a statutory assessment within 60 working days of complete acknowledgment (pausable once for 20 working days for EU acquirers or 30 working days for non-EU acquirers) evaluating acquirer reputation, financial soundness, and AML/CFT risks under the European Union (Payment Services) Regulations 2018, E-Money Regulations 2011, and MiFID Regulations 2017.⁴

Laws behind it

• Markets in Crypto-Assets Regulation: Regulation (EU) 2023/1114