Crypto license (authorization)

What the licence is called and what it requires depends on the jurisdiction. In the European Union, firms need authorisation as a crypto-asset service provider (CASP) under MiCA, granted by a national authority such as the CNMV in Spain or BaFin in Germany, which can then be passported across the EU. In the US, there is no single federal crypto licence: firms register with FinCEN as money services businesses, obtain money transmitter licences state by state, and in New York need a BitLicense or a trust charter. Other regimes include the UK FCA registration, Dubai's VARA and Singapore's MAS licences.

Licensing typically involves capital requirements, fit and proper checks on managers, AML programmes, custody and segregation rules, cybersecurity standards, complaint handling and regular reporting.

A licence in one country does not authorise services in another, and registration for AML purposes alone is not the same as full prudential authorisation. Users should check a provider's status on the regulator's official register rather than relying on a logo on its website.