CASP applications accepted by the FIN-FSA from 1. September 2024

EU Regulation on Markets in Crypto-Assets ("MiCA") has been partially applicable since 30. June 2024, demanding the issuers and offerors of asset referenced tokens and electronic money tokens to comply with the novel crypto-asset regulation. Starting from 30. December 2024, all other crypto-asset service providers ("CASP") have to acquire a CASP authorisation in order to offer crypto-asset services. It is important to notice that under the national transitional period, companies that have already registered as virtual asset service providers ("VASP") under national law can continue their operations without a CASP authorisation until 30. June 2025, provided that they have filed a CASP authorisation application before 30. October 2024.

We have discussed the effects of MiCA in more detail in our previous article.

The Finnish Financial Authority ("FIN-FSA") starts accepting CASP authorisation applications on 1. September 2024. If you are already offering virtual asset services under national law (or plan on entering the market as a new player) and have not yet begun preparing the application material for the CASP authorisation application, now is a good time to begin ensuring compliance with MiCA for when it becomes fully applicable.

At Nordic Law, we have assisted numerous companies in the registration as a virtual asset service provider, and currently assist companies with applying for CASP authorisations. If you require assistance with achieving MiCA compliance, we are happy to help.