MiCA stipulates capital requirements for crypto asset service providers (CASPs). These requirements aim to ensure the financial stability and integrity of CASPs operating within the EU. However, specific details regarding the capital requirements for CASPs under MiCA may vary depending on the size, nature, and scope of their activities.
Generally, MiCA stipulates that CASP is subject to certain initial capital requirements, which is determined based on factors such as the type of crypto asset services offered. These requirements are intended to ensure that CASP has sufficient financial resources to cover potential risks and liabilities, thereby safeguarding the interests of its clients and the stability of the financial system.
According MiCA, CASP shall, at all times, have in place prudential safeguards equal to an amount of at least the higher of the following:
(a) the amount of permanent minimum capital requirements, depending on the type of the crypto-asset services provided (see table below);
(b) one quarter of the fixed overheads of the preceding year, reviewed annually.
MINIMUM CAPITAL REQUIREMENTS FOR CRYPTO ASSET SERVICE PROVIDERS (CASP)
| CASP | Type of crypto-asset services | Minimum capital requirements |
| Class 1 | CASP authorised for the following crypto-asset services: execution of orders on behalf of clients;placing of crypto assets;providing transfer services for crypto assets on behalf of clients;reception and transmission of orders for crypto assets on behalf of clients;providing advice on crypto assets; and/orproviding portfolio management on crypto assets. | EUR 50 000 |
| Class 2 | CASP authorised for any crypto asset services under class 1 and: providing custody and administration of crypto assets on behalf of clients;exchange of crypto assets for funds; and/orexchange of crypto-assets for other crypto-assets. | EUR 125 000 |
| Class 3 | CASP authorised for any crypto-asset services under class 2 and: operation of a trading platform for crypto assets. | EUR 150 000 |