All licence types
Crypto Licence
Ten frameworks across 50+ jurisdictions, compared
A crypto licence is not one thing. Ten different frameworks sit behind the phrase, and which one you need depends on where your clients are — not on which acronym sounds strongest. Below: all ten side by side, the scenario each is actually built for, and the routes that quietly do not give you what people assume they do.
Crypto licence routes
Every crypto licence route has its own hub below: what the route covers, which business models it suits, the jurisdiction pages under it, and the safer alternative where another framework fits better.
MiCA
MiCA / CASP
EU-wide CASP authorisation with passporting across all EEA member states
30 jurisdictions
VASP
VASP Licence
Virtual asset service provider licence for non-EU regulated markets
15 jurisdictions
CASP
CASP Licence
Crypto-asset service provider routes across MiCA-aligned EEA states and Turkey-specific local-market authorisation
31 jurisdictions
DASP
DASP Licence
Digital asset service provider licence — emerging-market regimes
3 jurisdictions
DLT
DLT Licence
Distributed ledger technology provider licence — premium Swiss & Gibraltar frameworks
2 jurisdictions
VATP
VATP Licence
Virtual asset trading platform licence — regulated Asian market access
1 jurisdiction
MSB
MSB Registration
Money services business registration — fast-track North American compliance
1 jurisdiction
UK AML
UK AML Registration
FCA cryptoasset AML/CTF registration for UK-facing businesses
1 jurisdiction
DAB
Digital Asset Business
Full-spectrum digital asset business licence in offshore/emerging jurisdictions
3 jurisdictions
General
General Feasibility
Crypto company setup feasibility where no dedicated crypto licence is confirmed
1 jurisdiction
Which crypto licence fits your situation?
Pick your crypto licence by business scenario, not by acronym. Each row starts from a situation and names the framework built for it.
10 scenarios
| Situation | Recommended route | |
|---|---|---|
| EU/EEA clients and passporting | MiCAMiCA CASP authorisation | View |
| Non-EU exchange or custody licence | VASPVASP licence | View |
| CASP-focused route selection across EEA and Turkey | CASPCASP authorisation | View |
| El Salvador or Kazakhstan digital asset service provider route | DASPDASP licence | View |
| Hong Kong trading platform | VATPVATP licence | View |
| Canada AML/MSB compliance | MSBMSB registration | View |
| UK-facing cryptoasset services | UK AMLUK AML registration | View |
| Switzerland / Gibraltar infrastructure | DLTDLT provider licence | View |
| Bahamas, Bermuda or Thailand operations | DABDigital Asset Business licence | View |
| No clear confirmed route | GeneralGeneral feasibility assessment | View |
EU/EEA clients and passporting
Non-EU exchange or custody licence
CASP-focused route selection across EEA and Turkey
El Salvador or Kazakhstan digital asset service provider route
Hong Kong trading platform
Canada AML/MSB compliance
UK-facing cryptoasset services
Switzerland / Gibraltar infrastructure
Bahamas, Bermuda or Thailand operations
No clear confirmed route
Framework comparison
Top-level overview of all 10 frameworks. Each hub page contains detailed jurisdiction-level comparison tables.
| Route | Main use case | Jurisdictions | Passporting | Timeline | Risk note | |
|---|---|---|---|---|---|---|
| MiCA | EU/EEA CASP authorisation | 30+ EEA states | 6–18 months | Full authorisation required | View | |
| VASP | Non-EU exchange, custody, transfer | Single jurisdiction | 3–12 months | Jurisdiction quality varies widely | View | |
| CASP | MiCA-aligned CASP routes plus Turkey domestic market | EEA + Turkey | 4–12+ months | Passporting depends on jurisdiction and approved scope | View | |
| DASP | Emerging market digital asset services | Single jurisdiction | 3–9 months | Regime maturity varies | View | |
| DLT | Blockchain infrastructure, fintech | Switzerland or Gibraltar | 6–18 months | High substance expected | View | |
| VATP | Virtual asset trading platform (HK) | Hong Kong only | 12–24 months | Complex SFC requirements | View | |
| MSB | Canada crypto exchange / payments | Canada only | 1–3 months | Registration, not a full licence | View | |
| UK AML | UK-facing cryptoasset businesses | UK only | 6–12 months | High FCA rejection rate historically | View | |
| DAB | Full-spectrum digital asset licence | Bermuda, Bahamas, Thailand | 3–12 months | Offshore/emerging jurisdictions | View | |
| General | No confirmed dedicated crypto route | Case by case | Assessment only | Verify regulatory status first | View |
EU/EEA CASP authorisation
Full authorisation required
Non-EU exchange, custody, transfer
Jurisdiction quality varies widely
MiCA-aligned CASP routes plus Turkey domestic market
Passporting depends on jurisdiction and approved scope
Emerging market digital asset services
Regime maturity varies
Blockchain infrastructure, fintech
High substance expected
Virtual asset trading platform (HK)
Complex SFC requirements
Canada crypto exchange / payments
Registration, not a full licence
UK-facing cryptoasset businesses
High FCA rejection rate historically
Full-spectrum digital asset licence
Offshore/emerging jurisdictions
No confirmed dedicated crypto route
Verify regulatory status first
Important limitations
Registration is not the same as a licence. MSB, UK AML and some VASP registrations do not grant the same operational rights as a full authorisation.
No passporting outside MiCA. A VASP or other non-EU licence does not allow you to serve EU/EEA clients without a separate MiCA authorisation.
Company setup is not regulatory approval. Incorporating a company in a jurisdiction does not mean you are licensed to operate crypto services there.
Banking is a separate feasibility question. A licence does not guarantee that you can obtain a corporate bank account in or connected to that jurisdiction.
Target-market rules can override incorporation jurisdiction. Where you market and serve clients may trigger local licensing obligations regardless of where you are incorporated.
Frequently asked questions about crypto licensing
A crypto licence is an authorisation from a financial regulator to provide crypto asset services — exchange, custody, wallet, transfer, brokerage or advice — to clients in that regulator's jurisdiction. There is no single global licence: MiCA covers the EU and EEA, VASP regimes cover most non-EU markets, and several countries use registration rather than authorisation.
Entry cost starts around 5 000 USD for a DASP in El Salvador and 8 000 USD for a VASP in Georgia, against 16 600 EUR and up for a MiCA route in the EU. The cheapest authorisation is rarely the cheapest project: capital requirements, local substance, annual supervision fees and the difficulty of opening a bank account usually cost more than the licence itself.
Yes. Serving crypto asset clients in the EU or EEA requires MiCA CASP authorisation, regardless of where your company is incorporated. A VASP, DASP or offshore licence does not grant EU market access and cannot be passported into it.
From 1–3 months for emerging-market registrations to 6 months and beyond for MiCA and other full authorisations. The regulator's formal review window is only part of it — preparing a file that survives review is usually the longer half.
Only inside the EU and EEA. A MiCA authorisation passports to all 30 states through a notification procedure. Everywhere else, each country requires its own approval: holding a VASP in Dubai gives you nothing in Brazil.
No, and the difference decides what you may legally offer. Canada MSB and UK FCA cryptoasset registrations are AML/CTF supervision regimes: they confirm you are monitored for money laundering, not that you are authorised to provide financial services. Presenting one as a licence is a compliance risk in itself.
This information is for general guidance only and does not constitute legal or regulatory advice. Requirements change. Always validate with a qualified adviser.
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