Crypto licensing (VASP)

Licensing a crypto business

Exchangers, custodians, OTC desks, crypto payment gateways and wallet providers fall under virtual asset regulation in most developed markets. This subsection lists law firms and consultants that handle VASP registrations, CASP authorisation under MiCA and other crypto licences.

Key regimes in brief

• EU — MiCA: crypto-asset service providers need CASP authorisation from a national regulator, which can then be passported across the EU. National VASP registrations are being replaced during the MiCA transition period.
• UK: registration with the FCA for cryptoasset businesses under money-laundering rules, with additional rules for promotions.
• UAE / Dubai: dedicated virtual asset regimes in Dubai and in free zones, each with its own scope.
• Other directions often discussed: Poland, Czech Republic, Lithuania, Estonia, Cyprus, Switzerland, Hong Kong, Singapore, Canada (MSB with virtual currency), El Salvador and Kazakhstan's AIFC.

Requirements and timelines change frequently; confirm the current position with your adviser before planning.

What a VASP or CASP application usually needs

• A legal entity with real management, often local directors and an office.
• AML/CFT framework, risk assessment and an appointed MLRO — see compliance outsourcing.
• KYT and wallet screening and Travel Rule procedures.
• Custody and safeguarding rules for client assets, IT security policies.
• Under MiCA: capital requirements by service type, governance, white papers for certain tokens.

Choosing an adviser

• Recent applications handled with the same regulator.
• Whether they also help with crypto-friendly banking and incorporation.
• Clear fee structure and what happens if the regulator asks for changes.

Using the page

Filter by country: Poland, Czech Republic, Lithuania, UAE, UK. Related: crypto infrastructure and crypto processing. Nominal hub is a directory, not a legal adviser — post a request to get proposals.