What Is the MiCA Regulation and Why Is It Key?
MiCA (Markets in Crypto-Assets Regulation) is the first comprehensive legal framework for crypto-assets at the level of the entire European Union. The Regulation became fully applicable on 30 December 2024 and fundamentally changes the rules governing crypto-asset businesses.
MiCA introduces uniform rules for the issuance of crypto-assets, their public offering, and the provision of related services. It replaces the previously fragmented regulation across Member States and creates a predictable environment for innovation in blockchain and digital finance.
Any entity providing services related to crypto-assets must now obtain a CASP (Crypto-Asset Service Provider) authorisation from the competent supervisory authority — in the Czech Republic, this is the Czech National Bank. The authorisation is then transferable across the EU through the so-called passporting regime.
Key Terms
- CASP — a provider of crypto-asset services licensed under MiCA. It replaces the previous VASP concept.
- Whitepaper — an information document that a crypto-asset issuer must publish prior to a public offering.
- Passporting — a licence granted in one EU Member State is automatically valid throughout the entire Union.
- ART / EMT — asset-referenced tokens and e-money tokens — two regulated categories of stablecoins under MiCA.
Three Pillars of Our Practice
- We combine crypto-asset regulation, fintech innovation, and payment services into one integrated legal advisory offering.
MiCA Licensing & Crypto-Assets
Comprehensive legal support in obtaining CASP authorisation from the Czech National Bank. Preparation of the application, whitepaper, compliance documentation, AML programme, and internal organisational rules. We assist crypto exchanges, custodial providers, trading platforms, and token issuers.
Fintech & Innovation
Legal advice for fintech startups and established companies alike. Structuring business models in compliance with regulation, product structuring, and licensing strategy. DeFi protocols, investment platforms, robo-advisory, asset tokenisation, and crowdfunding.
Payment Services
Licensing of payment institutions and electronic money institutions. Advice on PSD2, the Czech Payment System Act, and the regulation of limited-scale payment services. Opening payment accounts, cooperation with banks, and cross-border payment services.
CASP Licence under MiCA — Classes of Services
- The MiCA Regulation distinguishes different classes of authorisation depending on the scope of services provided:
| Class 1 | Class 2 | Class 3 | |
|---|---|---|---|
| Description | Basic services — reception of orders, advisory services, placement of tokens | Custody, crypto/fiat and crypto/crypto exchange | Operation of a trading platform, provision of liquidity |
| Min. capital | EUR 50,000 | EUR 125,000 | EUR 150,000 |
| Suitable for | Advisers, intermediaries | Exchanges, custodial providers | Exchanges, trading platforms |
| IT requirements | Standard | More stringent (DORA) | Most stringent (DORA, NIS2) |
What We Can Deliver for You
- We cover the entire lifecycle — from the initial concept to ongoing regulatory support and expansion.
1. Business Model Analysis
- We assess your business plan from a regulatory perspective. We determine whether a licence is required, what type of licence is needed, and propose an optimal structure compliant with MiCA, the Czech Capital Market Undertakings Act, or the Czech Payment System Act.
2. Licensing Proceedings before the Czech National Bank
- We prepare the complete application and documentation — organisational rules, compliance manual, AML programme, and IT security policies. We guide you through the entire process, including communication with the regulator.
- Application for CASP, PI, or EMI authorisation
- Organisational rules and compliance manual
- AML/KYC policies and IT security strategy
3. Token Issuance & Whitepaper
- We structure token issuances, prepare the whitepaper in accordance with MiCA requirements, and represent you in notification or approval proceedings before the Czech National Bank. We cover EMTs, ARTs, and utility tokens.
4. Compliance, AML & Internal Audit
- We establish and maintain a compliance programme — AML/KYC policies, internal regulations, reporting to the Czech National Bank and the Financial Analytical Office, risk management, and internal audit in accordance with MiCA, DORA, and NIS2.
5. Passporting & Cross-Border Expansion
- We assist with the distribution of services into other EU Member States. We handle notifications to foreign regulators and the structuring of cross-border operations.
6. Payment Services & E-Money
- Licensing of payment institutions, electronic money institutions, and limited-scale payment service providers. Advice on opening payment accounts and cooperation with banks.
How Does the Licensing Process Work?
- We guide you through the entire process — efficiently and with minimal risk of rejection.
Step 1: Initial Consultation Free of Charge
- We discuss your project, business model, and plans in detail. We propose the process, timeline, and fee quotation.
Step 2: Regulatory Classification
- We assess which regulatory regime your product falls under — MiCA, the Czech Capital Market Undertakings Act, the Czech Payment System Act, or a combination thereof. We determine the type of licence required.
Step 3: Preparation of Documentation
- We prepare the complete application — organisational rules, compliance manual, AML/KYC policies, whitepaper, IT security strategy, and capital plan.
Step 4: Licensing Proceedings before the Czech National Bank
- We submit the application and guide you through the entire approval process. We handle communication with the regulator and address any additional requirements.
Step 5: Launch & Ongoing Support
- Once the licence has been obtained, we assist with the commencement of operations, reporting setup, and ongoing compliance. We also handle passporting into other EU countries where required.
Who Do We Help?
- We work with clients across the full spectrum of digital finance:
- Crypto exchanges & trading venues — operators of exchange services and trading platforms. CASP licensing, compliance, AML, and banking relationships.
- Token issuers — projects issuing utility tokens, stablecoins (ART/EMT), or investment tokens. Whitepaper, CNB notification, and issuance structuring.
- Fintech companies — investment platforms, robo-advisory, DeFi protocols, crowdfunding platforms. Regulatory strategy and licensing.
- Payment institutions & e-money — payment service providers, electronic money institutions, neobanks. PI/EMI licences, PSD2, open banking.
Why Work with Us?
Specialisation in Digital Finance
- We have long focused on crypto-assets, blockchain, and fintech. We have followed the development of MiCA, DORA, and national implementation measures from day one.
Experience with the Czech National Bank
- We have extensive experience with licensing proceedings before the Czech National Bank. We know what the regulator expects and how to accelerate the process.
Bridging Law and Technology
- We understand not only the regulatory framework but also the technical side — blockchain, smart contracts, DeFi, and custody solutions. We speak your language.
Cross-Border Experience
- We assist with passporting and EU expansion. We represent both Czech and foreign entities entering the Czech market.
Comprehensive Approach
- We integrate regulatory, corporate, tax, and AML aspects into one cohesive solution.
Long-Term Partnership
- In addition to one-off advisory work, we provide ongoing support — compliance, internal audit, reporting, and responses to regulatory changes.
Frequently Asked Questions
What Is a CASP and Who Needs One?
CASP (Crypto-Asset Service Provider) is a new type of licence introduced by the MiCA Regulation. It is required for anyone providing services related to crypto-assets — operators of exchanges, trading platforms, custody providers, advisers, and crypto-asset portfolio managers.
What Are the Time Limits for Obtaining a CASP Licence?
Entities operating on the basis of a trade licence before 30 December 2024 were required to submit their application by 31 July 2025. The transitional period ends definitively on 1 July 2026 — after that date, operating without a licence is prohibited. The licensing process itself usually takes 3–6 months.
What Is Passporting and How Does It Work?
A CASP licence granted in one EU Member State automatically authorises the holder to provide services throughout the Union. It is sufficient to make the relevant notification to the regulators of the respective countries. This mechanism significantly facilitates cross-border business.
What Are the Capital Requirements?
The minimum requirements depend on the licence class: EUR 50,000 (Class 1), EUR 125,000 (Class 2), and EUR 150,000 (Class 3). In addition, there are ongoing own-funds maintenance requirements and professional indemnity insurance obligations.
Do I Need a Whitepaper for a Token Issuance?
- Yes, MiCA requires the publication of whitepapers for public offerings of crypto-assets. ART and EMT tokens are subject to a stricter approval process before the Czech National Bank.
What Is the Difference Between CASP and VASP?
VASP required only a trade licence and registration. CASP under MiCA replaces it and takes regulation significantly further — it requires a full licence from the Czech National Bank, detailed scrutiny of documentation, higher capital requirements, and ongoing supervision.
Do You Need a MiCA Licence or Legal Support for Fintech?
Contact us — the initial consultation is free of charge. We will discuss your project and propose the optimal course of action.