In Focus: CASP Authorisation And Competency Requirements

Key Guidance Published by ESMA

The European Securities and Markets Authority ("ESMA") has published key guidance for any firm contemplating an application for authorisation as a crypto-asset service provider ("CASP") under the Markets in Crypto-Assets Regulation ("MiCAR").

• The first is ESMA's Supervisory Briefing on the Authorisation of CASPs, published on 31 January 2025, which offers guidance to national competent authorities ("NCAs") on how they should evaluate CASP applications.
• The second is ESMA's Guidelines on the criteria for the assessment of knowledge and competence under MiCAR, published on 28 January 2026, which sets out the standards expected of CASP staff who provide information or advice to clients.