ESMA_QA_2221

Status: ✅ Answer Published

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Regulatory Context

Level 1 Regulation: MiCA

Topic: Crypto-Asset Service Provider (CASP)

Subject Matter: Entities who have not applied for, or whose application for authorisation as CASPs has been refused by the end of the transition period

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Question

Submission Date: 21-06-2024

What happens to an entity providing crypto-asset services in accordance with applicable law before 30 December 2024 that has not applied for authorisation as a end of the transition period?

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ESMA Answer

Answer Date: 04-07-2024

Where an entity providing crypto-asset services in accordance with applicable law before 30 December 2024 has not been authorised as a CASP by the end of the transition period applicable in the relevant Member State, it must cease providing crypto-asset services. Where such entities do not seek a MiCA authorisation, they should consider at an early stage how they will wind down their operations in a manner that avoids negative impact on their clients in accordance, if relevant, with applicable laws.

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This document was automatically extracted from the ESMA EMIR Q&A database.