New CASPs established before (and after) 30 December 2024

ESMA Q&A 2085 on New CASPs established before (and after) 30 December 2024.

Authority	ESMA
Q&A ID	ESMA_QA_2085
Status	Answer Published
Published	29 January 2024
Legal basis	Article 143 MiCA; Article 143(3) MiCA
Source	ESMA Q&A

Question

Does Article 143 allow for new CASPs established between MiCA’s entry into force (June 2022) and 30 December 2024 to continue providing crypto-asset services (under national applicable law) until 1 July 2026 (assuming the MS allows the full duration of the grandfathering period)?

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Answer

Yes. Article 143(3) of MiCA allows entities providing crypto services to benefit from grandfathering if they provided their services in accordance with applicable national law before 30 December 2024. There is no effective ‘date of initiation’ related to entry into force or other temporal constraint (i.e., if the entity providing crypto services began offering services in 2014, it would still be eligible for grandfathering).

For those entities offering crypto services who did not provide such services (or exist as a legal entity) under any applicable laws before 30 December 2024, they will not benefit from grandfathering. To provide services in the transitional period (and after), they must acquire a MiCA authorisation.

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Source: ESMA original document