MiCA (Markets in Crypto-Assets Regulation)

MiCA is the EU regulation on markets in crypto-assets (Regulation (EU) 2023/1114). It sets out, for the whole EU, who may sell you bitcoin or hold it for you.^[1]

What MiCA regulates

• Authorisation: exchanges, brokers, Bitcoin apps and custodians are crypto-asset service providers (CASPs)GlossaryCASP (crypto-asset service provider)A company that professionally provides crypto-asset services to customers – such as trading, exchange, custody or transfers. In the EU, every CASP needs an authorisation under MiCA.On the learning path: Stage 4 · Step 2 – Choosing a provider →In the glossary →× and need authorisation from their national supervisor – in Germany, BaFinGlossaryBaFin (Germany’s Federal Financial Supervisory Authority)Germany’s financial regulator, based in Bonn and Frankfurt am Main. In Germany, it is responsible for authorising and supervising crypto service providers under MiCA, and it warns about unauthorised offers.On the learning path: Stage 6 · Step 2 – Spotting scams →In the glossary →×. Banks and investment firms only have to notify their supervisor. The authorisation is valid across the EU.
• Customer protection: including keeping customer assets separate, a complaints procedure and clear information on costs and risks.
• Stablecoins and new tokens get their own rules. These don’t affect Bitcoin, because it has no issuer.^[1]

The key dates

MiCA has applied in full since 30 December 2024. Existing providers were allowed to carry on during a transitional period – in Germany until 31 December 2025, EU-wide until 1 July 2026 at the latest. Since then, every provider serving customers in the EU has needed MiCA authorisation or a notification (as of September 2026).^[2],[3]

What this means for you

Before signing up, check whether a provider is listed in the MiCA register kept by ESMAGlossaryESMA (European Securities and Markets Authority)The EU authority for securities and financial markets, based in Paris. What matters to you is its MiCA register: it lists all crypto-asset service providers authorised in the EU.On the learning path: Stage 4 · Step 2 – Choosing a provider →In the glossary →×. Authorisation doesn’t protect you against price losses, fraud or your own mistakes, and there is no deposit guaranteeGlossaryDeposit guarantee (deposit protection)Statutory protection for bank deposits: up to €100,000 per person and bank if the bank goes bust. It generally doesn’t cover bitcoin – and neither does investor compensation.On the learning path: Stage 5 · Step 1 – Understanding custody →In the glossary →× for bitcoin. More in MiCA & regulation simply explained.