CASP (Crypto-Asset Service Provider)

A CASP is a firm authorised under MiCA to provide crypto-asset services across the EU.

What is it? - Dummies

A CASP is like a travel agency, but for crypto-assets: it is the authorised firm that holds your coins for you, exchanges them, executes your purchases or runs the trading platform. To operate, it has to apply for a licence and comply with MiCA rules, just as an agency needs its licence to sell travel.

What is it? - PRO

A CASP (Crypto-Asset Service Provider) is the legal entity authorised under MiCA Regulation (EU) 2023/1114 to provide, on a professional basis, one or more crypto-asset services: custody and administration, operation of trading platforms, exchange, execution of orders, placing, advice or portfolio management, among others.

It requires authorisation from the competent national authority and is subject to capital, governance, custody and client protection requirements. It is a figure specific to MiCA; services relating to tokenised financial instruments are instead handled by investment firms under MiFID II.

Key points

A figure defined and authorised by MiCA.
Requires authorisation from the competent national authority.
Services: custody, trading, exchange, execution, advice, and others.
Does not cover financial instruments, which are governed by MiFID II.

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