Europe · EU
A single regulatory space: for many activities, including crypto-asset services under MiCA, a licence from one member state can be passported across the EU.
At a glance
Overview
EU legislation harmonises the core authorisation regimes for payment and e-money institutions, investment firms and — under the Markets in Crypto-Assets Regulation (MiCA) — crypto-asset service providers and issuers. Authorisation is granted by a national competent authority, after which the firm can notify its intention to provide services in other member states.
Gambling is the notable exception: it is not harmonised at EU level, and each member state sets its own rules on whether and how online gaming may be offered to its residents; we assess each target market separately.
The choice of home member state therefore matters. Supervisory approach, review timelines, language, local substance expectations and the banking ecosystem differ considerably between national authorities, even under the same legislation; we compare candidates on these points before you commit.
Authorities
Regimes
Authorisation under the EU payments and e-money framework, with passporting of services across the EEA.
Sectors: Payments
Authorisation for custody, exchange, trading platform, transfer, advice and other crypto-asset services, passportable across the EU.
Sectors: Crypto
Authorisation and white paper requirements for issuers of asset-referenced tokens and e-money tokens offered in the EU.
Sectors: Crypto
Authorisation for brokerage, dealing, portfolio management and related investment services, passportable across the EEA.
Sectors: Investment
Our Regulatory & Licensing practice prepares the applications for these routes and manages them through to the regulator's decision.
Considerations
This overview is general information, summarised at a high level. Requirements change and depend on the specific activity; seek advice on your circumstances before acting.
Industries
Across jurisdictions
Services we support across the jurisdictions in our directory, described once on their own pages. We deliver each to the requirements that apply locally, coordinating local specialists where local law, registration, representation or professional requirements require it.
Support
Insights
Regulatory update
With MiCA's transitional periods over, the question for CASPs serving EU clients is whether their operating model matches the services they were authorised to provide.
6 min read
Regulatory update
The EU's AML reform moves core obligations into a directly applicable regulation and creates a new supervisory authority, AMLA. Firms that start a gap analysis now can adapt in good time.
5 min read
We look at your product, target clients and banking needs to see whether this jurisdiction fits or another would serve you better, then send a written proposal with scope, timetable and fee.
