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MiCAR compliance for crypto asset service providers

Navigating MiCAR: Key Steps for CASP Authorisation

fintech compliance fintech news
Published ago

The Markets in Crypto Assets Regulation (MiCAR) is reshaping the landscape of EU crypto regulation, with a focus on fostering innovation while ensuring consumer protection. Starting December 30, 2024, crypto asset service providers (CASPs) in the EU must secure authorisation to continue operating across the EU. A transitional period runs until December 29, 2025, for existing virtual asset service providers (VASPs) to operate without a MiCAR licence. CASPs must meet stringent regulatory requirements, including governance, client asset protection, transparency, and anti-money laundering (AML) compliance. Early engagement with regulators is key to successfully navigating the authorisation process. Get in touch for a free consultation and ensure your business is MiCAR-ready!

Croatia is on the FATF grey list. What’s next?

fintech news
Published ago

Croatia’s addition to the FATF Grey List raises concerns for fintech companies, but it doesn’t signal a major risk. The Grey List highlights deficiencies in a country’s AML framework, but it doesn’t classify it as high-risk. For fintechs, the main concern is ensuring proper sanctions screening, which is already a standard requirement.

What to avoid:

Conducting unnecessary gap analyses or risk assessments.
Doing enhanced due diligence for all Croatian customers.
Running separate country risk assessments.
Stay focused on key compliance areas to save time and resources. For more advice, reach out at advisory@complianceaspect.com.