Source: Mondaq

MiCA is identified as Regulation (EU) 2023/1114 setting a harmonised EU framework for crypto-assets and related services, applying to issuers, service providers and other undertakings involved in issuance, public offering, admission to trading or provision of crypto-related services within the EU. The regulation aims to enhance investor and consumer protection through greater market transparency, clearer information access and defined complaint-handling and dispute-resolution procedures. MiCA establishes licensing and regulatory requirements for crypto-asset service providers and introduces a single authorisation regime for CASPs operating in the EEA.

MiCA classifies crypto-assets into Electronic Money Tokens (EMTs), Asset-Referenced Tokens (ARTs) and Other Crypto-Assets, and excludes unique NFTs, non-transferable bound tokens and assets already regulated as financial instruments under MiFID. A CASP intending cross-border services must notify its home Member State authority (in Italy: Consob or the Bank of Italy) listing Member States of activity, services to be offered, expected start date and any activities outside MiCA; once authorised CASPs may passport across the 27 EU Member States. Luxembourg’s CSSF is the competent supervisor for CASPs there; advantages cited include a fintech-friendly ecosystem, legal and tax stability and EU passporting access. The dossier notes Coinbase obtained a MiCA licence in Luxembourg in 2025 and B2C2 later secured a CASP licence. The Luxembourg CASP authorisation process described comprises company incorporation, CSSF registration, MiCA compliance and licensing, and ongoing reporting and record-keeping. Arnone & Sicomo offers legal assistance for CASP authorisations in Italy and Luxembourg and cites professionals including Dr. Fabrizio Dicembre; the article closes by advising specialist advice for specific circumstances.