MiCA license by country

The comparison covers all 27 EU member states plus Iceland, Liechtenstein and Norway. The table lists the authority responsible for a normal CASP route and the current count from ESMA’s CASP dataset. As of 31 July 2026, it contains 318 current legal entities across 26 home states. The 2 entries with an end date on or before the snapshot date are excluded. The count shows current authorisations or notifications reported in that snapshot. The count does not measure regulator quality.

What is EU-wide, and what changes by country?

MiCA sets the same core rules across the EU/EEA. The regulation applies directly in EU member states. The regulation applies in the EEA-EFTA states through the EEA incorporation and implementation framework. A country cannot create a lighter CASP class or waive the Article 62 application. The applicant files with a national authority through a national legal entity and remains subject to other domestic rules. Separate EU requirements from national requirements when you compare states.

The statutory periods cover only defined stages of regulatory review. The assessment of a complete file can also involve requests for more information. The full CASP licence guide maps the services, documents, capital classes and formal process.

MiCA authorities and live firm counts by country

In the table, Authority means the lead route for a standard standalone CASP. Several states divide responsibility when the applicant is a bank, payment institution, e-money institution, investment firm or another Article 60 entity. Use the linked authority to confirm the current route for the applicant’s entity type.

A zero records the register snapshot only. The zero means that no current firm in the data had that home-state code on 31 July 2026. MiCA still applies in the state. The zero does not show whether the authority can accept applications, and it does not let a firm operate without authorisation. Entries already ended on the snapshot date are excluded. The list changes as national authorities send records to ESMA. Use the searchable CASP register to inspect legal names, services and authorising authorities behind the totals.

How to interpret the count

The count groups firms by the home state of the authorised or notifying legal entity. The count does not add every country in which that entity can serve customers. One firm based in Luxembourg may passport across the EEA. A large international group may have several regulated entities. A high national total shows where records originated. The total does not show market share, application success rate, supervisory quality or how many platforms are available to a resident of that country. The total can include eligible financial institutions using Article 60 and standalone Article 63 CASPs.

Counts can rise or fall. New records arrive, names and service scopes change, and an authorisation can be withdrawn. Before you make a decision, open the underlying record. Match the legal entity to the customer agreement, check the authorised service codes and look for an end date. Use the country total for navigation. Complete due diligence on the underlying record.

How to choose a defensible MiCA home state

Start with facts about the existing business. An intermediary’s shortlist does not establish a compliant home state. A regulator will examine whether the operating model and the chosen home state make sense together. Use these checks:

1. Identify where directors and senior leaders make decisions, where control functions work and where the authority can supervise records and systems. MiCA requires an EU registered office, effective management in the EU and at least one EU-resident director.
2. Define the service scope before you compare authorities. Custody, exchange, execution, operating a trading platform, advice and transfer services have different evidence and capital needs.
3. Confirm that the proposed entity can recruit accountable management and compliance staff, oversee outsourcing, handle complaints and maintain business continuity from that state. A registered address alone does not prove real local operations.
4. Review the full set of local requirements. Corporate law, AML supervision, payroll, tax, data, employment and any payment-services dependency can change the practical fit. The MiCA licence cost guide separates regulatory capital from fees and the cost of running the control environment.
5. Verify the authority’s current instructions. Use the official link in the table and confirm who receives the application for the entity type. Check current templates and language requirements before you prepare the file. Historic firm counts do not predict how the authority will assess a new file.

The CNMV country guide shows how the same EU rules apply to one national authority’s route. Use Spain as an example and assess each applicant’s home state separately.

What passporting changes after authorisation

Article 65 passporting removes the need for a separate CASP licence in every host state. Once authorised, the CASP tells its home authority which member states it intends to serve, which authorised services it will provide and when cross-border activity should begin. The home authority then sends the notification through the MiCA cooperation process. The firm does not submit a new Article 62 application in every host state.

The passport follows the authorised legal entity and its approved services. The passport does not cover an unauthorised group company, a service omitted from the permission or a different business model under the same brand. Primary supervision remains with the home authority. Host authorities retain their MiCA powers, and local rules outside the harmonised licence can still apply. For due diligence, match the entity name and service codes in the ESMA record. A claim that a firm is "licensed in Europe" does not provide those details.

Poland and Romania need separate treatment

Poland: Poland’s implementing act had not entered into force by 23 June 2026. The KNF notice from that date says no domestic public authority, including KNF, had been designated for most MiCA-supervised activity. The notice states an exception for e-money tokens. It also says the old Polish virtual-currency register is not a MiCA permission and does not support activity after the transition. A proposal to designate KNF does not create an operative Article 63 application route.

Romania: ESMA’s competent-authority PDF, last updated 17 February 2026, marks the country as TBA. The TBA entry limits what the source proves and creates a regulatory caveat. Before relying on a Romanian route, obtain the later national designation and current filing instructions from an official source. MiCA’s EU-wide service prohibition continues during either gap. Waiting does not give a firm permission to operate.

Need the historical transition dates?

The country-by-country MiCA deadline guide lists the Article 143 dates and national transition notes. To compare an old registration with a current CASP file, use the VASP-to-CASP transition guide.

Frequently asked questions

Primary official sources

Reviewed 11 August 2026. Register data through 31 July 2026. Authority responsibilities, forms and firm counts can change. Confirm the current position with the relevant authority and ESMA before acting. This guide gives general information and does not provide legal, tax, regulatory or investment advice.