CASP Licence: What It Is and How to Verify One

What a CASP licence covers

If you see that a company is calling itself a CASP, that means it provides crypto-asset services under the EU Markets in Crypto-Assets Regulation (MiCA). To do so legally, the firm must hold a CASP licence. We're talking about firms that might run a digital asset trading platform, look after customers' crypto, or offer advice on blockchain tokens or coins.

MiCA names each service that needs permission from a regulator. These include custody work (sometimes called safekeeping or administration), managing a marketplace, letting people swap euros for stablecoins (or tokens for other tokens), filling orders, moving funds, and handling investments in crypto. Not every firm is cleared for every service. Always look closely at what their official licence covers; the published register shows this. For a detailed explanation, see what MiCA is and how it protects crypto users.

From national registrations to MiCA

Until recently, many digital asset firms operated by registering under their country’s anti-money-laundering rules. That process didn’t create the same protections you’ll find under MiCA, there wasn’t a real supervision of how they safeguarded client money or managed risk. MiCA set a single, binding set of standards across the EU, but there’s a period where older firms that were already running may have some transitional rights (the details can vary depending on the specific member state). So just seeing the firm describe itself as compliant, or "registered," is not the same thing as official EU authorisation.

Some companies still use older terminology like "registration." Don’t rely just on sales language. Instead, check the official registers and see if those match the company’s claims. And since a licensed provider can work in other EU countries using what’s called passporting, you may also want to see how EU passporting works.

How to verify a CASP licence

Start with the company's exact legal name (not just a trade name) and, if available, their legal entity identifier (LEI).
Check the ESMA public register of crypto-asset service providers, along with the national register from the regulator named by the firm. Sometimes, national lists update first.
See whether the country, list of licensed services and company details on the register fit what the firm offers you.
Identify the regulator listed in the register and check their website for any warnings or restrictions.
If a firm claims to be licensed but doesn't appear in any register, treat its licence as unverified. Don’t transfer funds without certainty.

Registers are updated; if you want to stay safe, repeat these checks before sending money. Authorisation doesn’t equal risk-free. The value of crypto can drop sharply and, with some services, you might lose your investment.

Frequently asked questions

Is a CASP licence the same as deposit protection?

No. If a crypto firm holds a CASP licence, it's been authorised and faces oversight, but that does not mean your crypto is insured or protected against loss. Usual national deposit guarantees (like the ones that might protect bank account balances) almost never apply to crypto. To see what might happen if the company collapses, or how it keeps client assets apart from its own, check the firm’s terms in detail.

How do I check a CASP licence on the ESMA register?

You check the ESMA register by searching for the firm’s legal name, then make sure the country, business activity shown, and regulatory authority line up with what’s on the company’s website. If you don’t find them on ESMA’s list, check your country’s regulator lists and warnings. For rules on what information must be shared when money or crypto is sent, see what the crypto travel rule is.