MiCA, Crypto-Asset Service Provider
Cost
Authorization-stage costs vary by national competent authority (NCA), comparable to MiFID II investment firm licensing in cost and rigour
Timeline
6-18 months depending on NCA
Capital
€50,000 (advice/order reception) | €125,000 (exchange/custody) | €150,000 (operating a trading platform)
EU-wide crypto framework regulated by ESMA / National Competent Authorities.
Who it suits
Crypto exchanges, custodians, on-ramps, and brokerage services serving EU clients. MiCA replaces the patchwork of national VASP licences from 30 December 2024 (CASP transitional period to 1 July 2026).
Compliance load
Authorization by NCA, strict governance and prudential rules, AML/CTF aligned with EU 6MLD, Travel Rule compliance, reserve requirements for stablecoin issuers, transparency disclosures.
The acquiring angle
MiCA is becoming the baseline expectation among EU acquirers underwriting crypto merchants. Operators with MiCA authorization access tier-one acquirer relationships impossible under legacy VASP regimes. Pricing 0.5-2.5% IC++ markup. Reserves 5-15%. The most significant regulatory shift in EU crypto since 2014.
Notes and pitfalls
Existing Lithuania, Estonia, and other national VASP holders must apply for MiCA authorization, transitional grandfathering ends 1 July 2026. Many existing operators will exit the EU rather than uplift to MiCA.
Reference information, not legal advice. Figures are typical ranges as of 2026.
MiCA CASP questions.
How do acquirers view the MiCA CASP licence?
Acquirer acceptance is Broad. MiCA is becoming the baseline expectation among EU acquirers underwriting crypto merchants. Operators with MiCA authorization access tier-one acquirer relationships impossible under legacy VASP regimes. Pricing 0.5-2.5% IC++ markup. Reserves 5-15%. The most significant regulatory shift in EU crypto since 2014.
What does the MiCA CASP cost and how long does it take?
Cost: Authorization-stage costs vary by national competent authority (NCA), comparable to MiFID II investment firm licensing in cost and rigour. Timeline: 6-18 months depending on NCA. Capital: €50,000 (advice/order reception) | €125,000 (exchange/custody) | €150,000 (operating a trading platform). These are typical ranges as of 2026; verify with the regulator before budgeting.
Does BZNpay help with MiCA CASP applications?
No. We are an introducer to acquirers, not a licensing agent. We can tell you how this licence plays with the acquirer pool and introduce you to the partners whose appetite covers it.