> 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-2221-entities-who-have-not-applied-whose-application.md).

# Entities who have not applied for, or whose application for authorisation as CASPs has been refused by the end of the transition period

|                 |                                                                                  |
| --------------- | -------------------------------------------------------------------------------- |
| **Authority**   | ESMA                                                                             |
| **Q\&A ID**     | ESMA\_QA\_2221                                                                   |
| **Status**      | Answer Published                                                                 |
| **Published**   | 4 July 2024                                                                      |
| **Legal basis** | None mapped                                                                      |
| **Source**      | [ESMA Q\&A](https://www.esma.europa.eu/publications-data/questions-answers/2221) |

### Question

What happens to an entity providing crypto-asset services in accordance with applicable law before 30 December 2024 that has not applied for authorisation as a CASP, or whose application for authorisation as a CASP has been refused by the end of the transition period?

***

### Answer

Where an entity providing crypto-asset services in accordance with applicable law before 30 December 2024 has not been authorised as a CASP by the end of the transition period applicable in the relevant Member State, it must cease providing crypto-asset services. Where such entities do not seek a [MiCA](https://github.com/jakesenfti/micawtf/blob/main/mica/README.md) authorisation, they should consider at an early stage how they will wind down their operations in a manner that avoids negative impact on their clients in accordance, if relevant, with applicable laws.

***

**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/2221)


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