Knowledge base
Regulatory deep dives. By practitioners, for practitioners.
8 long-form analyses covering MiCA implementation, VASP-to-CASP transition, prudential capital, DORA, and jurisdictional comparisons. Each piece cites primary sources and is reviewed against the regulator's most recent technical standards.
Country deep-dives
Estonia · FSA process
Estonian FSA CASP Process: A 2026 Practitioner Guide
The Estonian FSA (Finantsinspektsioon) tightened CASP review materially in 2026 after the wave of substance-light VASP refusals in late 2024. This guide covers what FSA reviewers actually look for and the deficiency patterns that pause the clock.
Czech Republic · ČNB migration
Czech National Bank CASP Migration: 2026 Practitioner Notes
Crypto-asset supervision in Czech Republic moved from the Trade Licensing Office to the Czech National Bank on 1 January 2026. Existing Czech VASPs face a substance-grade migration review that the prior regime did not require. This is how to file successfully.
Lithuania · MiCA CASP
MiCA CASP Authorisation in Lithuania: 2026 Complete Guide
Lithuania is the fastest mid-tier EU jurisdiction for MiCA CASP authorisation in 2026 — Bank of Lithuania runs 4-6 month cycles for properly prepared applications. This guide covers eligibility, capital, dossier, and common reasons applications stall.
Regulatory analysis
MiCA Article 143 · Transitional regime
VASP-to-CASP Transition: The 1 July 2026 Deadline Explained
Article 143 of MiCA gives existing crypto-asset firms a transitional regime to migrate from national VASP registers to CASP authorisation. The deadline to file is 1 July 2026 in most member states. This is what the transition actually requires, and where it goes wrong.
MiCA Annex IV · Prudential capital
MiCA Prudential Capital: Class 1, 2, and 3 Explained for CASPs
MiCA classifies CASPs into three tiers with €50K, €125K, and €150K initial-capital floors plus an own-funds-or-PII overlay. The classification rules and overlay maths are widely misunderstood. This guide walks through both with worked examples.
DORA · ICT operational resilience
DORA ICT Resilience Plan for CASPs: What 2026 Requires
DORA applies to MiCA-authorised CASPs from 17 January 2025. By 2026 supervisors are scrutinising ICT-resilience plans against actual operating reality, not just template compliance. This is what the plan needs to contain and where applications get pulled up.
Comparisons
MLRO substance · EU comparison
MLRO Substance Requirements for EU CASPs: A 2026 Comparison
The MLRO function is the AML side of MiCA's substance test. National regulators have diverged sharply on what 'adequate seniority and resources' means in 2026 — Estonia and Malta are strict, Cyprus is light, Lithuania sits in the middle. This is what each expects.
EU jurisdictional comparison
Best EU Jurisdiction for MiCA CASP in 2026: A Practical Comparison
Lithuania, Estonia, Czech Republic, Cyprus, Malta, Ireland — six EU member states actively process MiCA CASP files in 2026, and they differ on timeline, supervisory rigour, capital expectations, and post-licence supervisory style. This is how to choose.