---
question: "What is MiCA authorisation?"
description: "Approval under Regulation (EU) 2023/1114 to issue crypto tokens or provide crypto services in the EU, passportable across member states. In force since 2024."
topic: "Regulation & licensing"
jurisdiction: "EU"
published: 2026-08-01
author: "Zion Labs"
canonical: https://www.zionlabs.io/answers/what-is-mica-authorisation
answer: "MiCA is Regulation (EU) 2023/1114, the EU's uniform framework for crypto-assets not already covered by EU financial services law. Authorisation under it means a national competent authority in one member state has approved a firm to issue asset-referenced or e-money tokens, or to provide crypto-asset services as a CASP, after which it can passport those services across the EU. It is already in force, not forthcoming: the rules for asset-referenced and e-money tokens have applied since 30 June 2024 and the rest since 30 December 2024. Transitional arrangements for firms already operating under national law run to 1 July 2026 at the latest, and individual member states were free to close theirs sooner."
---

# What is MiCA authorisation?

## Answer

MiCA is Regulation (EU) 2023/1114, the EU's uniform framework for crypto-assets not already covered by EU financial services law. Authorisation under it means a national competent authority in one member state has approved a firm to issue asset-referenced or e-money tokens, or to provide crypto-asset services as a CASP, after which it can passport those services across the EU. It is already in force, not forthcoming: the rules for asset-referenced and e-money tokens have applied since 30 June 2024 and the rest since 30 December 2024. Transitional arrangements for firms already operating under national law run to 1 July 2026 at the latest, and individual member states were free to close theirs sooner.

## Nuances and considerations

- **Two different authorisations sit under one name.** Issuing asset-referenced or
  e-money tokens is one regime; providing crypto-asset services — custody,
  operating a trading platform, exchange, order execution, advice — as a CASP is
  another. A firm saying it is "MiCA authorised" has one of them, for a defined
  scope of services. Ask which.
- **The passport is the point.** Once authorised in one member state, a CASP can
  operate across the EU under the MiCA passport, subject to notifying its home
  authority which services it will provide where. That is a genuine single-market
  change and the main commercial reason firms pursue authorisation.
- **E-money token issuers face a higher bar.** Under MiCA they must be authorised
  as a credit institution or an electronic money institution — it is not a licence
  a firm obtains from a standing start.
- **Supervision is split.** National competent authorities authorise and supervise;
  the EBA classifies significant asset-referenced and e-money tokens and takes over
  supervision when the criteria are met; ESMA holds powers alongside national
  authorities.
- **The transitional deadline is not a single EU-wide date.** The regulation set an
  outer limit of 1 July 2026, but member states could shorten their own window. If
  you are checking whether a firm is authorised, check the register of the member
  state it is operating from, on the date you are checking.
- **What MiCA does not cover:** crypto-assets already regulated by other EU
  financial services legislation, central banks and the ECB, and crypto-assets that
  are unique and not fungible. Nor does authorisation mean insurance or a solvency
  guarantee — it means disclosure, governance, prudential and conduct requirements
  are being supervised.
- **This is an EU regime.** A MiCA-authorised firm is not licensed in the US or the
  UK by virtue of that authorisation.

## Sources

- [European crypto-assets regulation (MiCA) — summary of EU legislation](https://eur-lex.europa.eu/EN/legal-content/summary/european-crypto-assets-regulation-mica.html) — EUR-Lex, Publications Office of the European Union. Supports: The regulation number and title; the three categories (e-money tokens, asset-referenced tokens, other crypto-assets); authorisation requirements for issuers and CASPs; EBA and ESMA supervisory roles; the 30 June 2024 and 30 December 2024 application dates; and the exclusions, including assets covered by other EU financial services law and unique, non-fungible assets.
- [Markets in Crypto-Assets Regulation (MiCA)](https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica) — European Securities and Markets Authority. Supports: That MiCA institutes uniform EU market rules for crypto-assets, and that member states could adopt optional transitional measures allowing firms operating under national law before 30 December 2024 to continue until 1 July 2026 or until authorisation is granted or refused.
- [Application of Second Part of MiCA — Regulation of CASPs and Other Public Offering of Crypto Assets](https://www.dechert.com/knowledge/onpoint/2025/1/application-of-second-part-of-mica---regulation-of-casps-and-oth.html) — Dechert LLP. Supports: That from 30 December 2024 crypto-asset services can only be provided in the EU by an authorised CASP; that the transitional period runs to 1 July 2026 unless the relevant member state decided to reduce it; and that an authorised CASP can operate across the EU under a MiCA passport.

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