CASP Licensing under MiCA and DORA: A Comprehensive Solution to Comply with New EU Requirements

In 2024–2025, the cryptocurrency market in the European Union is undergoing fundamental changes. The introduction of two key regulations, MiCA(Markets in Crypto-Assets Regulation) and DORA (Digital Operational Resilience Act), creates a completely new regulatory environment for crypto asset service providers (CASPs). Companies wishing to continue operating in the EU are required to undergo re-licensing in accordance with these acts.

The new rules set uniform standards in the field of risk management, operational resilience, and regulation of crypto assets. Failure to comply with the requirements is fraught not only with the loss of a license, but also with significant fines, making adaptation to regulatory changes a strategic task.

Why re-licensing is necessary

MiCA and DORA require companies to be transparent, resilient, and have a high level of cybersecurity. For CASPs, this means that previous licenses and business practices are no longer sufficient. Re-licensing is becoming the only way to maintain the right to legally operate in the European Union.

MiCA covers the regulation of all types of crypto assets, setting strict requirements for company structure, investor protection, financial reporting and anti-money laundering.

DORA, in turn, focuses on IT risks: companies must prove the resilience of their digital infrastructure, implement 27 mandatory policies and undergo a comprehensive cybersecurity audit.

Implementation stages and deadlines

• June 30, 2024 — MiCA requirements for ART and EMT tokens come into force.
• December 30, 2024 — mandatory MiCA compliance for all CASPs.
• January 17, 2025 — deadline for compliance with DORA standards, including the implementation of 27 policies, IT infrastructure audit and cybersecurity measures.
• Until July 1, 2026 — transition period for CASPs operating until the end of 2024.

What is needed to pass licensing?

To successfully complete the re-licensing process, companies need to go through several key stages:

• Documentation Preparation:
  Create a business plan with a full financial model, market analysis and organizational structure. Develop internal policies that comply with AML/CFT, privacy and cybersecurity requirements.
• Hiring and Management Structure:
  Build a competent team with qualified compliance officers to ensure all regulatory requirements are met.
• EU Office:
  Physical presence in the EU is a prerequisite for obtaining a license.
• Application Submission and Follow-up:
  Prepare a full package of documents, submit to supervisory authorities, interact with regulators and respond to queries as part of the application review.
• Launch and Compliance:
  Once approved, all internal processes and mechanisms required by MiCA and DORA must be implemented to ensure smooth operations and maintain the license in the future.

With regulatory changes in the EU crypto market, MiCA and DORA licensing is becoming an integral part of a sustainable development strategy. For companies looking to quickly and reliably go this route, IT-OFFSHORE offers comprehensive support: from preparing business documentation and selecting a team to supporting the application and communicating with regulators. With a deep understanding of MiCA and DORA requirements, you can focus on developing your business, entrusting compliance issues to professionals.