MiCA & DORA

MiCA-Ready. Market-Ready.

The EU Markets in Crypto-Assets Regulation (MiCA) sets out rules for registration, licensing and supervision of crypto asset service providers (CASPs), as well as requirements for consumer protection and transparency. It aims to create a single market for crypto assets in the EU, ensuring the stability and security of digital financial services. Under MiCA, current Virtual Asset Service Providers (VASPs) dealing with crypto-assets will need to adhere to standardized regulations across all EU member states, simplifying compliance and fostering a more stable and trustworthy market.

 

Starting January 1st, 2025, MiCA license applications will be open. All companies holding a VASP license must re-apply for the new MiCA CASP license. While VASPs will have a transition period (the length of which varies by jurisdiction), the timeframes are narrow. Therefore, we strongly recommend beginning preparations now, including drafting required documentations and establishing local substance, such as a physical office and a local team of senior-level AML/CFT specialists.

 

Our company is well-prepared to ensure a successful licensing outcome under the new MiCA (Markets in Crypto-Assets) regulation, which provides a unified licensing regime across the European Union.

 

Get started with Artlex Consult today to ensure a seamless transition to MiCA compliance and beyond.

Key requirements for CASP

 1. Capitalisation: 

MiCA presents different share capital requirements depending on the specific CASP activities. 


Class 1 CASP –  50.000 EUR capital for the following crypto-asset services:

– reception and transmission of orders on behalf of third parties; and/or
– providing advice on crypto-assets; and/or
– execution of orders on behalf of third parties; and/or
– placing of crypto-assets.


Class 2 CASP –  125.000 EUR capital for any crypto-asset services under Class 1 and:

– exchange of crypto-assets for fiat currency that is legal tender;
– exchange of crypto-assets for other crypto-assets;
– operation of a trading platform for crypto-assets.


Class 3 CASP –  150.000 EUR capital for any crypto-asset services under Class 2 and:

– custody and administration of crypto-assets on behalf of third parties.


We highly recommend increasing the capital of the VASP company already now in the registry to avoid administrative tasks later.

2. Compliance and development of policies:

According to the MiCA Regulation, CASPs must have developed more than 25 documents, i.e. a set of internal rules and policies that must be prepared to ensure internal control mechanisms, risk assessment, confidentiality and safeguarding of funds in accordance with the MiCA requirements.

 

 

Our specialized lawyers can support with all legal documentation review and preparation. 

 

 

3. Local substance:

CASPs must have local physical office where at least part of the activities are carried out; management taking place in the EU with at least one director being a resident of the EU, in addition senior level local AML compliance specialists (e.g. CCO and MLRO roles). We can provide team-staffing and local team management solutions.

 

 

Moreover, we can support with setting up a local physical office and sourcing highly qualified professionals for direct employment Chief Compliance Officer (CCO) and Money Laundering Reporting Officer (MLRO) roles.

 

CASP Licensing

At ARTEX CONSULT, we provide a structured and flexible pricing model to cater to the diverse needs of our clients. Our services are divided into three key phases, each crucial for securing a MiCA license. For clients opting for a comprehensive solution covering all three phases, we offer a discounted package rate, ensuring maximum value without compromising on the quality of our services. 

Enterprise Wide Risk Assessment (EWRA)

Purpose: Initial consultation and gap analysis of current documentation  and IT Infrastructures.

Outcome: Reporting on what needs to be improved prior to obtaining license in accordance with MiCA Regulation.

Policy Documentation Development

Purpose: Review and preparation of necessary documentation in accordance with MiCA Regulation.

Outcome: Development of customized strategies to ensure MiCA compliance.

MiCA License Application

Purpose: Preparation and submission of a MiCA license application and ongoing correspondence with the regulatory authority.

Outcome: Obtaining MiCA license.

Compehensive  MiCA Licensing Support

Purpose: a full package of services for bringing the business in accordance with MiCA  regulation.

Outcome: Obtaining MiCA  license.

DORA Compliance

DORA compliance is not a one-time task — it is a phased process of building true operational resilience. At each stage, it is essential not just to formally meet the requirements, but to establish real-world practices that deliver results.

We support businesses through all key stages of preparation — from diagnostics to policy implementation and readiness for regulatory review.
This approach ensures not only formal compliance with the Regulation, but also the creation of an effective risk management system.

Operational Resilience Policy Development

Development and implementation of 27 comprehensive policies aligned with DORA requirements and designed to strengthen business continuity.



IT and Cybersecurity Risk Assessment

Comprehensive audit of IT infrastructure: identifying vulnerabilities, assessing risks, and ensuring compliance with regulatory information security standards.

Incident and Crisis Management

Development of effective response protocols for cybersecurity incidents and operational disruptions, as well as ensuring full compliance with regulatory reporting requirements.

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