MiCA regulatory authorities: who supervises what, country by country

01Why there are 27 authorities for a single licence

MiCA is a single EU regulation, but its enforcement stays national: each member state designates its own competent authority (often the existing financial markets regulator, sometimes the central bank, sometimes both depending on the type of institution). This authority reviews the licence application, carries out ongoing supervision, and notifies the authorisation to ESMA, which republishes it in its centralised register.

Once a licence has been obtained from one of these 27 authorities, the platform can legally operate across the entire Union without applying for a second, country-by-country licence. This is the European passporting principle.

02The competent authority, country by country

Some countries split supervision between two authorities depending on the type of institution or service (for example, a bank applying for CASP status often follows a different track from an independent exchange). The table shows the authority that grants the licence, with a link to its official page (MiCA / CASP page where one exists); the note column flags cases where jurisdiction is split.

03What this table doesn't replace

The name of an authority does not guarantee that a given platform is actually licensed there: only ESMA's centralised register, or the relevant national authority's own site, is authoritative at any given point in time. To check the status of a specific platform rather than a country, Uncrypt Check queries this data directly.