Qualified crypto custody licence (Germany)
The Qualified crypto custody licence (Erlaubnis für das qualifizierte Kryptoverwahrgeschäft nach § 1 Absatz 1a Satz 2 Nummer 6 KWG) is issued by Federal Financial Supervisory Authority (BaFin) under Crypto Markets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG). It is a national licence: it does not give a passport to other EU/EEA states. The official register lists 15 current holders. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Qualified crypto custody licence1 |
|---|---|
| Local name | Erlaubnis für das qualifizierte Kryptoverwahrgeschäft nach § 1 Absatz 1a Satz 2 Nummer 6 KWG |
| Also known as | Kryptoverwahrgeschäft · Erlaubnis für das qualifizierte Kryptoverwahrgeschäft · BaFin crypto custody licence · German crypto custody licence · KWG crypto custody licence |
| Issued by | Federal Financial Supervisory Authority |
| Jurisdiction | Germany |
| Licence family | Virtual asset service provider (non-MiCA) |
| Legal basis | Crypto Markets Supervision Act (Kryptomärkteaufsichtsgesetz - KMAG)2 Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)3 Regulation (EU) 2022/2554 on digital operational resilience for the financial sector (DORA)4 |
| Passporting | Domestic only |
| Public register | official register5 |
| Current holders | 155 |
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. |
|---|---|
| Virtual asset safekeeping (FATF) | Safekeeping or administering virtual assets, or instruments enabling control over them, for another person. |
Where it is valid
Buying a company that already holds it
Prior notification with an objection period. Acquiring or increasing a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining control of a credit institution, payment institution, or investment firm, requires prior written notification to BaFin and the Deutsche Bundesbank. BaFin conducts an assessment of acquirer reliability, professional competence, financial soundness, and money laundering risks within 60 working days from receipt of a complete filing, interruptible once by up to 20 working days (or 30 working days if non-EEA) to request additional information, under Section 2c KWG, applied mutatis mutandis to payment and e-money institutions via Section 14 ZAG and to investment firms via Section 24 WpIG.6
VASP in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Abu Dhabi Global Market (ADGM) | VASP licenceFinancial Services Permission with Virtual Asset Activities Endorsement | FSRA | USD 250,000 | USD 20,000 | n/a |
| Australia | VASP licenceRegistration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register) | AUSTRAC | n/a | n/a | n/a |
| Bermuda | Digital Asset Business Class F (Full) Licence | BMA | n/a | n/a | n/a |
| Bermuda | Digital Asset Business Class M (Modified) Licence | BMA | n/a | n/a | n/a |
| Bermuda | Digital Asset Business Class T (Test) Licence | BMA | n/a | n/a | n/a |
| British Virgin Islands | Virtual Assets Service Provider Registration | BVI FSC | n/a | n/a | n/a |
| Cayman Islands | Virtual Asset Service Provider Licence | CIMA | n/a | KYD 5,000 | n/a |
| Cayman Islands | Virtual Asset Service Provider Registration | CIMA | n/a | KYD 1,000 | n/a |
| Dubai (VARA) | Virtual Asset Advisory Services Licence | VARA | AED 100,000 | AED 40,000 | n/a |
| Dubai (VARA) | Virtual Asset Broker-Dealer Services Licence | VARA | AED 600,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Custody Services Licence | VARA | AED 600,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Exchange Services Licence | VARA | AED 1,500,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Lending and Borrowing Services Licence | VARA | AED 500,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Management and Investment Services Licence | VARA | AED 500,000 | AED 100,000 | n/a |
| Dubai (VARA) | Virtual Asset Transfer and Settlement Services Licence | VARA | AED 500,000 | AED 40,000 | n/a |
| Dubai International Financial Centre (DIFC) | Financial Services Permission with Crypto Token Activities Endorsement | DFSA | USD 1,000,000 | USD 15,000 | n/a |
| El Salvador | Proveedor de Servicios de Activos Digitales (PSAD) registration | CNAD | USD 2,000 | USD 5,475 | ~0.9 mo |
| Germany | Qualified crypto custody licence | BaFin | n/a | n/a | n/a |
| Ireland | Virtual Asset Service Provider AML/CFT Registration | CBI | n/a | n/a | n/a |
| Mauritius | Virtual Asset Advisory Services (Class I) | FSC | n/a | n/a | n/a |
| Mauritius | Virtual Asset Broker-Dealer (Class M) | FSC | n/a | MUR 2,000,000 | n/a |
| Mauritius | Virtual Asset Wallet Services (Class O) | FSC | n/a | n/a | n/a |
| Mauritius | Virtual Asset Custodian (Class R) | FSC | n/a | MUR 5,000,000 | n/a |
| Mauritius | Virtual Asset Market Place (Class S) | FSC | n/a | MUR 6,500,000 | n/a |
| Seychelles | Virtual Asset Service Provider Licence / RegistrationVirtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024 | FSA | n/a | SCR 75,000 | n/a |
| South Africa | Crypto Asset Service Provider licenceCrypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime) | FSCA | n/a | n/a | n/a |
| Switzerland | Financial intermediary / VASP SRO affiliation | FINMA | CHF 10,000,000 | CHF 1,600 | n/a |
| United Kingdom | Cryptoasset Business Registration (MLRs 2017) | FCA | n/a | GBP 11,260 | ~3 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
- Digital Operational Resilience Act: Regulation (EU) 2022/2554
Sources
- gesetze-im-internet.de: 1 · retrieved 2026-09-24
- gesetze-im-internet.de: kmag · retrieved 2026-09-24
- EUR-Lex: CELEX 32023R1114 · retrieved 2026-09-24
- EUR-Lex: CELEX 32022R2554 · retrieved 2026-09-24
- portal.mvp.bafin.de: sucheForm.do · retrieved 2026-09-24
- gesetze-im-internet.de: 2c · retrieved 2026-09-24
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