Bulgaria
EU VASP route with transition planning and CASP conversion support.
EUROPEAN UNION VASP/CASP
EUROPE • MICA TRANSITION
EU MiCA: VASP to CASP Transition Pathway
Build a compliant EU pathway from legacy VASP positioning into full CASP readiness. We support transition strategy, documentation architecture, governance design, and application workflow execution across selected EU routes.
VASP → CASP transition planning
MiCA-aligned policy architecture
Ready-made VASP options (subject to availability)
Cross-border expansion roadmap
Private scoping: operations@readycorp.co
• View MiCA overview PDF
Regulatory snapshot
Most projects begin with transition eligibility mapping, then move into MiCA gap remediation, application-pack preparation, and launch controls.
One EU framework
MiCA introduces a harmonized CASP regime across the EU with jurisdiction-specific transition handling.
Transition strategy matters
Transitional windows and sequencing differ by Member State. We scope timing, dependencies, and risk points first.
CASP readiness depth
Governance, policy framework, prudential planning, and operational controls must be aligned before submission.
Popular MiCA transition routes
Ready-made VASP opportunities are handled privately and are always subject to current availability.
Czech Republic
EU VASP route with structured MiCA readiness and implementation workflow.
Poland
EU VASP route for teams planning staged conversion into full CASP operations.
Engagement options
We keep this page on private pricing due to variation in service class, governance complexity, and transition timeline.
Package A — CASP Transition Foundation
Private quote
For existing VASP operators
- VASP model and transition-path mapping
- MiCA gap assessment and remediation plan
- Policy/control architecture for CASP readiness
- Application-workstream planning support
- Operational launch checklist
Best for teams converting an existing structure into CASP-ready form.
Package B — Ready-Made Route + CASP Conversion
Private quote
Acquisition + conversion track
- Everything in Package A
- Ready-made VASP opportunity screening
- Acquisition/transfer support workflow
- Enhanced governance and substance planning
- Post-authorization expansion roadmap
Best for founders prioritizing speed with a staged compliance build.
Pricing is shared privately after scoping due to jurisdictional differences and project complexity.
Implementation timeline
A practical sequence used for most MiCA transition engagements.
1
Transition mapping
Assess your current status, service classes, and target jurisdiction strategy.
2
Gap assessment & design
Define governance, policy, prudential, and operational upgrades for CASP readiness.
3
Documentation & workflow
Build the application pack and supporting control framework with evidence standards.
4
Submission readiness & rollout
Finalize review package, implementation sequence, and post-approval operating plan.
Core CASP readiness building blocks
What we typically structure for production-grade MiCA alignment.
Governance & local substance
Management structure, key role ownership, oversight lines, and internal accountability design.
Prudential & safeguarding planning
Capital/safeguard planning and operational risk controls aligned to service scope.
AML/KYC & Travel Rule operations
Risk assessment, onboarding controls, monitoring workflows, escalation, and records discipline.
Policy and evidence pack
Program documentation, control matrix, procedures, and auditable implementation evidence.
FAQ
Quick answers for teams evaluating MiCA conversion.
Do existing VASPs need a MiCA/CASP pathway?
In most cases, yes. Existing operators should assess transition eligibility and prepare for full CASP alignment.
Can we use a ready-made VASP and then transition?
Yes, where available and suitable. We scope eligibility, timing, and conversion sequence before execution.
Are cross-border services automatic during transition?
Not automatically. Cross-border treatment can depend on jurisdictional rules and transition status.
Why is pricing private?
Scope differs significantly by service classes, target Member State, document depth, and timeline.
Note: This page is for general information and does not constitute legal, tax, or regulatory advice.
Ready to move from VASP to CASP?
Share your current setup and target markets — we’ll return a private transition roadmap and next-step plan.
MiCA regulation and the conversion process for VASPs to CASPs
MiCA (Markets in Crypto-Assets) regulation provides a unified licensing regime for the entire European Union. Crypto businesses, which are currently classified as VASPs (Virtual Asset Service Providers), will soon be classified as CASPs (Crypto-Asset Service Providers) under new MiCA regulations.
The opening of MiCA license application submissions is January 1st 2025. Every company holding a VASP license must re-apply for a new MiCA CASP license. VASPs will have a transition period (length depending on jurisdiction), but as the timeframes are quite narrow we recommend starting preparations now. ReadyCorp will get you started by drafting the required policy documentation and start setting up a local entity, such as a physical office and a local team of senior level AML specialists.
A CASP license is passport-able and it covers operations in any EU country (like an EMI license). The first set of regulations took effect on June 30th 2024 for stablecoin issuers and the second set takes effect on December 30th 2024 for crypto exchanges. We have strong connections with local regulators who will now be handling MiCA CASP licenses, and we are well aligned to navigate current VASPs to comply with European MiCA CASP license requirements.
To ensure a smooth transition, current VASPs should use the requirements of MiCA regulation as a blueprint to adjust towards the upcoming regulatory regime. Important changes from VASP to MiCA CASP license application:
Capital Requirements*: Heightened capital requirements (of up to €150k) are set to ensure financial service stability, to protect customer rights and to offer a threshold for entering the market. Must have at least one bank account opened at a EU based credit institution (EMI bank account does not qualify).
AML Compliance & Internal Policies: A set of internal policies required by MiCA have to be established for internal control mechanisms, risk assessment, confidentiality and safeguarding of funds.
Local Entity: A physical office where at least part of the activities are carried out; management taking place in the EU with at least one director being a resident of the EU, and senior level local AML compliance specialists (e.g. CCO, CRO and MLRO roles). The expectations of the legislator and regulator differ per jurisdiction.
*Capital Requirements
Class 1 CASP – 50.000
EUR
capital for the following crypto-asset services:
– reception and transmission of orders on behalf of third parties; and/or
– providing advice on crypto-assets; and/or
– execution of orders on behalf of third parties; and/or
– placing of crypto-assets.
Class 2 CASP – 125.000
EUR capital for the following crypto-asset services:
– reception and transmission of orders on behalf of third parties; and/or
– providing advice on crypto-assets; and/or
– execution of orders on behalf of third parties; and/or
– placing of crypto-assets.
– exchange of crypto-assets for fiat currency that is legal tender;
– exchange of crypto-assets for other crypto-assets;
– operation of a trading platform for crypto-assets.
Class 3 CASP – 150.000 EUR capital for the following crypto-asset services:
– reception and transmission of orders on behalf of third parties; and/or
– providing advice on crypto-assets; and/or
– execution of orders on behalf of third parties; and/or
– placing of crypto-assets.
– exchange of crypto-assets for fiat currency that is legal tender;
– exchange of crypto-assets for other crypto-assets;
– operation of a trading platform for crypto-assets.
– custody and administration of crypto-assets on behalf of third parties.
