> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/eu-level/q-and-a/esma-qa-2071-crypto-transfer-standalone-vs-ancillary.md). # Transfer: standalone or ancillary | | | | --------------- | ---------------------------------------------------------------------------------------------------------- | | **Authority** | ESMA | | **Q\&A ID** | ESMA\_QA\_2071 | | **Status** | Answer Published | | **Published** | 20 June 2024 | | **Legal basis** | [Articles 3(1)](/mica/title-i-subject-matter-scope-and-definitions-art.-1-3/article-3.md)(26), 59, 82 MiCA | | **Source** | [ESMA Q\&A](https://www.esma.europa.eu/publications-data/questions-answers/2071) | ### Question Recital 93 of MiCA states that "\[…] Many [crypto-asset service](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset-service.md) providers also offer some kind of transfer service for crypto-assets as part of, for example, the service of [providing custody and administration of crypto-assets on behalf of clients](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/providing-custody-and-administration-of-crypto-assets-on-behalf-of-clients.md), [exchange of crypto-assets for funds](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/exchange-of-crypto-assets-for-funds.md) or other crypto-assets, or [execution of orders for crypto-assets on behalf of clients](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/execution-of-orders-for-crypto-assets-on-behalf-of-clients.md) \[…]." Does Recital 93 of MiCA imply that a [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset.md) transfer offered as part of a [crypto-asset service](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset-service.md) (such as custody and administration or execution of orders on behalf of clients) is to be regarded as a component of such a crypto-asset service and should therefore not be subject to the authorisation requirements under [Article 59](/mica/title-v-authorisation-and-operating-conditions-for-crypto-asset-service-providers-art.-59-85/chapter-1/article-59.md) of MiCA? Or would such a transfer of crypto-asset still qualify as the separate service of crypto-asset transfer, as defined under [Article 3(1)](/mica/title-i-subject-matter-scope-and-definitions-art.-1-3/article-3.md), point (26), of MiCA, and be subject to authorisation requirements? What criteria should be taken into account to determine whether the [crypto-asset](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset.md) transfer is a separate service or not? Please confirm that, if a [transfer of crypto-assets](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/transfer-of-crypto-assets.md) is part of a crypto-asset service such as custody and administration or execution of orders on behalf of clients and thus does not constitute the separate service of transfer of crypto-assets, the requirements in [Article 82](/mica/title-v-authorisation-and-operating-conditions-for-crypto-asset-service-providers-art.-59-85/chapter-3/article-82.md) MiCA apply anyway (including the ESMA guidelines issued according to the mandate in [Article 82](/mica/title-v-authorisation-and-operating-conditions-for-crypto-asset-service-providers-art.-59-85/chapter-3/article-82.md)(2)). *** ### Answer Answer provided by the European Commission A crypto-asset service of providing transfer services as defined in Article 3(1), point (26), is a self-standing crypto-asset service referred to in Article 3(1), point (16)(j), along with other crypto-asset services. It follows from the definition of a [crypto-asset service provider](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/dora/crypto-asset-service-provider.md) in Article 3(1), point (15), and Article 59 that a crypto-asset service provider may provide transfer services only if it is allowed to do so in accordance with Article 59. Therefore, if the provision of a service falls under the definition of providing transfer services, despite being regarded as part of another crypto-asset service, it is subject to Article 59 on authorisation and Article 82 on providing transfer services, including the guidelines developed under Article 82(2). Disclaimer: The answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts. *** **Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/2071) ### Related * [providing custody and administration of crypto-assets on behalf of clients](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/providing-custody-and-administration-of-crypto-assets-on-behalf-of-clients.md) — defined term used on this page * [execution of orders for crypto-assets on behalf of clients](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/execution-of-orders-for-crypto-assets-on-behalf-of-clients.md) — defined term used on this page * [exchange of crypto-assets for funds](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/exchange-of-crypto-assets-for-funds.md) — defined term used on this page * [crypto-asset service provider](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/dora/crypto-asset-service-provider.md) — defined term used on this page * [crypto-asset service provider](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset-service-provider.md) — defined term used on this page * [crypto-asset service provider](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/crypto-asset-service-provider.md) — defined term used on this page * [transfer of crypto-assets](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/transfer-of-crypto-assets.md) — defined term used on this page * [crypto-asset service](https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/mica/crypto-asset-service.md) — defined term used on this page --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://www.mica.wtf/eu-level/q-and-a/esma-qa-2071-crypto-transfer-standalone-vs-ancillary.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.