- CySEC begins accepting CASP licence applications, preparing for MiCA full implementation across the European Economic Area by December 2024.
- The MiCA framework introduces unified EU crypto regulations, replacing local rules and enabling licence passporting for streamlined cross-border operations.
The Cyprus Securities and Exchange Commission (CySEC) has announced that it is now accepting Crypto Asset Service Provider (CASP) licence applications for preliminary assessment under the upcoming Markets in Crypto-Assets Regulation (MiCA).
The move comes as the European Economic Area prepares for the full implementation of MiCA, set to take effect on December 30, 2024.
CySEC’s Chairman, Dr. George Theocharides, emphasized the importance of this initiative, calling it a significant step toward strengthening investor protection in financial markets.
However, CySEC clarified that while applications are now open, approval before the EU deadline is not guaranteed. Priority will be given to locally registered entities already providing crypto-asset services under national rules.
The MiCA framework will introduce unified crypto regulations across the EU, replacing national licensing regimes and enabling licence passporting within the bloc.
The framework also introduces strict disclosure mandates for crypto users and expands regulatory coverage to stablecoins and other crypto assets by year-end.
