Regulatory & Compliance · Malta

MiCA Readiness Advisory

The EU Markets in Crypto-Assets Regulation (MiCA) is now in full force — requiring all crypto-asset service providers targeting EU clients to be registered as CASPs and comply with MiCA's disclosure, conduct, and capital requirements.

MiCACrypto RegulationEUCASPStablecoinEU PassportDeFi

Overview

MiCA — The EU Crypto Regulatory Standard

MiCA is the EU's comprehensive crypto-asset regulatory framework — applying to crypto-asset service providers (CASPs), issuers of asset-referenced tokens (stablecoins), and issuers of e-money tokens. From 30 December 2024, all CASPs serving EU clients must be registered with a member state's competent authority and comply with MiCA's requirements — or withdraw from EU markets.

Marensa Advisory provides MiCA readiness assessments and compliance advisory for crypto businesses — from initial CASP registration strategy through ongoing MiCA compliance programme design.

Assess Your MiCA Readiness

What We Cover

MiCA classification: CASP vs ART issuer vs EMT issuer
CASP registration: which EU member state (Malta, Luxembourg, Lithuania, Ireland)
EU entity formation for CASP registration
MiCA whitepaper preparation (where required)
Market integrity and market manipulation controls
Consumer protection and complaint handling
AML/CFT alignment with MiCA and FATF Travel Rule
MiCA capital and insurance requirements
Ongoing MiCA reporting obligations

Key Considerations

MiCA — Key Requirements

MiCA introduces comprehensive requirements for crypto-asset service providers and token issuers across the EU.

CASP Registration

All crypto-asset service providers must register with a competent authority in one EU member state. Registration provides an EU passport — the right to serve EU clients across all 27 member states under a single regulatory approval.

MiCA CASP Services

MiCA defines 10 categories of crypto-asset service: custody and administration, operating a trading platform, exchange, conversion, placing, reception and transmission of orders, portfolio management, advice, transfer services, and underwriting.

Stablecoin Issuers (ART / EMT)

Issuers of asset-referenced tokens (ARTs, e.g. commodity-backed stablecoins) and e-money tokens (EMTs, e.g. EUR stablecoins) face additional MiCA requirements — authorisation before issuance, reserve asset management, redemption rights, and volume-based restrictions.

Market Integrity

MiCA prohibits insider trading, market manipulation, and unlawful disclosure in crypto-asset markets — aligned with the EU Market Abuse Regulation approach. CASPs must implement market surveillance and abuse detection systems.

Whitepaper Requirement

Most crypto-asset issuers (other than ART and EMT issuers) must publish a MiCA-compliant whitepaper — notified to the competent authority and published on a public website. The whitepaper must not be misleading and must remain current.

Transitional Arrangements

Existing CASPs operating in EU member states before MiCA application may benefit from national transitional provisions — allowing continued operation pending CASP registration for a period of up to 18 months (varying by member state).

Our Process

How We Work

MiCA Assessment

We assess your business model against MiCA requirements — identifying which CASP service categories apply and any ART/EMT issuer obligations.

Registration Strategy

We advise on which EU member state offers the optimal CASP registration base — considering regulatory timeline, market access, and ongoing compliance burden.

Entity Formation

We coordinate EU entity formation in the target member state for CASP registration purposes.

CASP Registration Application

We prepare and file the CASP registration application — whitepaper (if required), business plan, compliance programme, and key person applications.

MiCA Compliance Programme

We design the ongoing MiCA compliance programme — market integrity controls, consumer protection procedures, AML/CFT alignment, and periodic reporting.

Why Marensa

MiCA. Compliant. Day One.

Delay in MiCA compliance creates increasing commercial risk — EU banks and payment partners are progressively withdrawing services from non-compliant crypto businesses, and non-EU businesses without EU regulatory status face de facto market exclusion.

Marensa Advisory provides MiCA readiness advisory as a practical, timeline-focused service — not a theoretical compliance exercise. Our goal is to get your business registered and commercially operational under MiCA as efficiently as possible.

Start the Conversation

Dec 2024

MiCA Full Application

EU Member States

CASP Service Types

EU Passport

Single Registration

FAQ

Common Questions

Does MiCA apply to non-EU crypto businesses with EU clients? +

Yes. MiCA applies to any crypto-asset service provider serving EU clients — regardless of where the CASP is incorporated. Non-EU CASPs without EU entity and CASP registration must either obtain EU registration or stop serving EU clients.

Is DeFi covered by MiCA? +

MiCA has limited direct application to truly decentralised protocols. However, where a DeFi platform has an identifiable operator with meaningful control, that operator may be a CASP subject to MiCA. EU authorities have signalled intent to extend regulation to DeFi in future MiCA reviews.

Which EU member state is best for CASP registration? +

Malta, Luxembourg, Lithuania, and Ireland are the leading choices. Malta has an established crypto regulatory framework and experienced MFSA. Lithuania has historically had fast fintech licensing. The choice depends on regulatory timeline, substance requirements, and existing relationships.

What is the FATF Travel Rule under MiCA? +

MiCA requires CASPs to comply with the EU Transfer of Funds Regulation (TFR) — the EU implementation of the FATF Travel Rule. CASPs must collect and transmit originator and beneficiary information for crypto-asset transfers, including transfers to unhosted wallets above EUR 1,000.