Tone

What are CASPs?

May 3rd, 2023

CASPs are Crypto Asset Service Providers, as defined by the European Union’s recently published crypto regulations known as MiCA. What exactly are they? Lets find out.

MiCA lists the following as CASP activities:

  • Secure storage and administration of crypto assets on behalf of third parties
  • Running a trading platform for crypto assets
  • The exchange of crypto assets for legal tender fiat currency
  • When crypto assets are traded for other crypto assets
  • Bids for crypto assets made on behalf of outside parties
  • Putting crypto assets in place
  • Getting and sending orders for crypto assets on behalf of third parties
  • Provide guidance on various crypto assets

tl,dr

A CASP is a business that provides services to citizens in Europe, such as custody and administration of crypto assets, crypto exchange services, and crypto advisory services.
This does not include portfolio management services.

Check out my two Twitter threads on the subject:

 

Additional links here.

This is the first article about MiCA.

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