New MiCA licenses in the EU

The Markets in Cryptoassets Regulation (MiCA) comes into force in the European Union from January 2025, requiring all cryptoassets service providers (CASPs) to obtain licenses to operate in the EU.

Crypto companies can continue to operate, but must apply for a MiCA license by December 31, 2025 (or July 1, 2026 in some jurisdictions).

The introduction of MiCA may lead to the phenomenon of "license shopping" - choosing the most favorable country for licensing, taking into account regulatory flexibility, taxes and market access.

Factors influencing the choice of jurisdiction by crypto companies:

• Regulatory environment
  The rigidity or flexibility of regulation affects the attractiveness of a country.

• Operating costs
  The cost of labor, taxes and fees determine the availability of licensing.

• Government Support
  Some countries actively encourage crypto companies through tax incentives.

Top 5 jurisdictions for MiCA license:

Netherlands
MoonPay, BitStaete, ZBD, and Hidden Road chose this jurisdiction for its friendly business environment and developed infrastructure

Luxembourg
Standard Chartered began providing crypto custody services due to its stable financial system

Ireland
HashKey Europe offers a variety of crypto services, including fiat-to-crypto exchange

France
Hexag provides digital asset custody services, confirming the growth of the crypto market in France

Malta
Crypto.com received a full MiCA license through the Malta Financial Services Authority (MFSA)

"It is essential for crypto companies to have access to clear regulatory guidance on the CASP application process, including a detailed procedure and review timeline, as implemented in the Netherlands and Ireland. It is also critical for companies to be able to interact with regulators. In this regard, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) stands out, organizing industry events and holding face-to-face meetings with industry representatives."

By contacting us, you will receive:

• Advice on MiCA licensing in different EU countries.

• Analysis of regulatory risks and recommendations on choosing the optimal jurisdiction.

• Support for the application process and interaction with regulators.

• Tax planning to optimize the costs of operating in the EU.

• Compliance strategies to meet MiCA requirements and prevent sanctions.