The Markets in Crypto-Assets Regulation provides a comprehensive framework for regulating CASP licensed companies across the European Union. To uphold financial stability, protect investors, and ensure market transparency, MiCA assigns CASPs to one of three regulatory tiers. These classifications are determined by the provider’s business model, risk profile, and compliance burden. Each class carries specific licensing criteria and operational requirements, including minimum capital provisions, AML/KYC standards, risk controls, and mandatory reporting.
-– Class 1 (Basic Services), includes:
- Execution of orders on behalf of clients
- Placing of crypto-assets
- Providing transfer services for crypto-assets
- Reception and transmission of orders for crypto-assets
- Providing advice on crypto-assets
- Portfolio management of crypto-assets
Share capital amount for Class 1 is €50,000 (or 1,250,000 CZK).
-– Class 2 (Exchange and Custody Services), includes:
- All types of activity from Class 1
- Custody and administration of crypto-assets
- Exchange of crypto-assets for funds (crypto-to-fiat transactions and vice-versa)
- Exchange of crypto-assets for other crypto-assets (crypto-to-crypto transactions)
Share capital amount for Class 2 is €125,000 (or 3,125,000 CZK).
-– Class 3 (Trading Platform Services), includes:
- All types of activity from Class 1 and Class 2
- Operation of a trading platform for crypto-assets
Share capital amount for Class 3 is €150,000 (or 3,750,000 CZK).
MiCA’s three-tier classification system offers a structured approach to crypto regulation, ensuring that CASPs adhere to the necessary financial, security, and compliance standards according to their business model and risk profile. Starting August 1, 2025, all existing crypto companies must comply with the new regulations in order to continue conducting the activities outlined above.