The Markets in Crypto-Assets Regulation (MiCA) introduces a unified regulatory framework for crypto-assets across the European Union (EU), promoting legal certainty, investor protection, and market stability. One of the core requirements under MiCA is obtaining a Crypto-Asset Service Provider (CASP) license, mandatory for businesses offering crypto asset services.
This licensing ensures compliance with strict standards on governance, security, and anti-money laundering (AML), enabling licensed CASPs to operate seamlessly across all EU member states. Whether you are an emerging startup or an established operator, obtaining a CASP license is essential to access the EU’s vast and dynamic market for digital assets.
In Austria, the Financial Market Authority (FMA) is the competent authority overseeing CASP licensing under MiCA. Businesses operating or planning to provide crypto-asset services in Austria must adhere to local implementation requirements alongside MiCA’s EU-wide provisions.
Our firm has a thorough knowledge of Austrian law, ensuring that your compliance efforts are efficient and effective.
We can help your business meet compliance requirements and unlock the potential of the EU crypto market!
In Austria, the FMA is the competent authority overseeing CASP licensing under MiCA
Key Numbers about a CASP License in Austria
3 monthsaverage term of obtaining CASP license after application submission |
at least severaldirectors in a CASP |
up to €150kamount of the share capital depending from CASP activity |
from 0 to 55%personal income tax (PIT) rate |
23%corporate income tax (CIT) rate |
27.5%capital gains tax (CGT) rate |
Legal Opinion about a CASP License in Austria
Ganna Voievodina
Manimama
|
CEO
“Obtaining a CASP license in Austria is essential for businesses offering crypto-asset services. Applicants must meet requirements, including robust AML/CFT compliance, a formal governance structure, and sufficient operational capital. Once licensed, CASPs must adhere to ongoing reporting obligations and maintain compliance with Austrian and EU regulations. A CASP license enhances credibility and provides access to the EU market under a clear regulatory framework”.
Types of Activities with a CASP License in Austria
Providing custody and administration of crypto-assets on behalf of clients
This service means safekeeping or controlling, on behalf of third parties, crypto-assets or the means of access to such crypto-assets, where applicable in the form of private cryptographic keys. Holdings of crypto-assets on behalf of the clients shall be segregated from CASP’s holdings.
Operation of a trading platform for crypto-assets
This service contains of the management of one or more multilateral systems, which brings together or facilitates the bringing together of multiple third-party buying and selling interests for crypto-assets – in the system and in accordance with its rules – in a way that results in a contract, either by exchanging one crypto-asset for another, or a crypto-asset for funds.
Exchange of crypto-assets for funds
This service means the conclusion of purchase or sale contracts concerning crypto-assets with clients for funds by using proprietary capital.
Exchange of crypto-assets for other crypto-assets
This service means the conclusion of purchase or sale contracts concerning crypto-assets with clients for other crypto-assets by using proprietary capital.
Execution of orders for crypto-assets on behalf of clients
This service means concluding agreements to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets on behalf of third parties and includes the conclusion of agreements to sell crypto-assets at the moment of their issuance.
Placing of crypto-assets
This service includes the marketing, on behalf of or for the account of the offeror or of a party related to the offeror, of crypto-assets to purchasers. Before placing the crypto-assets a CASP shall obtain the agreement of the issuers or any third party acting on their behalf.
Reception and transmission of orders for crypto-assets on behalf of clients
This service means the reception from a person of an order to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets and the transmission of that order to a third party for execution.
Providing advice on crypto-assets
This service means offering, giving or agreeing to give personalized recommendations to a third party, either at the third party’s request or on the initiative of the a CASP providing the advice, in respect of one or more transactions relating to crypto-assets, or the use of crypto-asset services.
Providing portfolio management on crypto-assets
This service includes managing portfolios in accordance with mandates given by clients on a discretionary client-by-client basis where such portfolios include one or more crypto-assets.
Providing transfer services for crypto-assets on behalf of clients
This service means transfer, on behalf of a natural or legal person, crypto-assets from one distributed ledger address or account to another. Such service may be provided without virtual currency wallet opened for a CASP’s client.
Benefits of Obtaining a CASP License in Austria
Seamless cross-border operations within the EU:
- A CASP license in Austria provides a strong foundation for passporting services across the European Economic Area (EEA).
- Adherence to EU compliance standards simplifies regulatory approvals in other member states.
Improved customer acquisition and retention:
- A licensed status reassures clients about security, AML compliance, and fraud prevention.
- Investors and users prefer platforms that operate within a regulated framework, leading to higher conversion rates.
Access to a regulated and transparent market:
- Legitimacy under Austrian and EU financial regulations enhances trust among investors.
- Compliance with the FMA ensures operational transparency and security.
Enhanced institutional trust and banking access:
- Licensed companies find it easier to open and maintain bank accounts in Austria and across Europe.
- Regulatory recognition reduces the likelihood of banks classifying transactions as high-risk, improving financial operations.
Opportunities for institutional funding and partnerships:
- Licensed crypto service providers can attract venture capital, hedge funds, and institutional investors.
- Regulatory compliance opens doors to collaboration with banks, payment service providers, and fintech companies.
Legal protection against regulatory uncertainty:
- A clear regulatory framework protects businesses from abrupt legal changes and market restrictions.
- Companies with a CASP license face lower risks of operational shutdowns due to non-compliance.
Our Services
STEP 1
Incorporation stage
- Company formation in Austria
- Provision of a registered address for 1 year
- Opening corporate bank account and transferring the share capital
- Appointment and employment of a local director
- Detailed company structure documentation
STEP 2
Pre-licensing stage
- Preparation and submission legal and financial documents (non-exhaustive list) according to MiCA
- Review of existing policies and procedures, if the company already has them
STEP 3
Licensing stage
- CASP license application assistance
- Conducting communication with the FMA during the license process
Our Experts in this Area
Step by Step Description
-
Initial setup
- Initiating a preliminary project assessment
- Creating an action plan
- Preparation and filing of the package of documents
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Company registration
- Selection and verification of the company name in the Commercial Register
- Facilitating the notarial process for the company's official registration
- Preparation and submission of necessary forms and documents to the Commercial Register
- Payment of government fees
- Opening a corporate bank account
- Filing for tax registration
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Obtaining a CASP license
- Preparation of documents according to MICA
- Submission an application to the licensing authority - FMA
- Reviewing the application to ensure it is complete (if any documents or information are missing, the applicant will be notified and given a specific deadline to provide the necessary additional documentation)
- Assessment of the documents` content submitted (a detailed review to verify that all regulatory requirements are met)
- Requesting of additional details (if applicable)
- Notification of grant or refusal of the CASP license
- Granting or refusal notification to European Securities and Markets Authority (ESMA)
- Publication in ESMA register
Austrian National Legislation
In Austria, the transition period means that applicants may continue to provide services related to the provision of crypto-asset services until December 31, 2025
Regulation:
In Austria, the key legislative act that implements the provisions of the MiCA is the MiCA Enforcement Act, officially known as the MiCA-Verordnung-Vollzugsgesetz (MiCA-VVG). This act was passed by the Austrian National Council (Nationalrat) on July 3, 2024, and came into force on July 20, 2024.
It outlines the FMA's supervisory powers, including the authority to issue directives, suspend services, and enforce compliance among CASPs. Additionally, the act establishes administrative penalties, reporting obligations, and procedural rules to ensure adherence to EU supervisory standards and directives.
Licensing authority:
The FMA is the competent authority responsible for the supervision and licensing of CASPs in Austria. The FMA ensures that entities comply with both MiCA and relevant national legislation. It provides guidance, oversees compliance, and has the authority to grant or revoke licenses for crypto-asset service providers operating within Austria.
Procedure, timelines, fees:
Following the full application of MiCA, i.e. after 30 December 2024, the FMA must assess within 25 working days of receiving an application for authorisation whether all of the required information has been included in the application. At this stage, however, the FMA will not assess the quality of the information provided. The FMA may ask the applicant to supplement the application if some or all of the required information is missing. The FMA will set a deadline for the submission of any missing information. After the submission of missing information, the FMA will have 40 working days to make a qualitative assessment of the application. During this period, the FMA has the opportunity to submit additional requests for clarification, but only the first of these requests will suspend the 40 working day assessment period, for a maximum of 20 working days.
The authorisation procedure (irrespective of its outcome) is subject to a fee in accordance with the Gebührengesetz (Fees Act, 1957). If an authorisation is granted, a fee is charged in accordance with the FMA-Gebührenverordnung (FMA Fees Ordinance).
Transition period:
According to the MiCA-VVG, Austria has established a 12-month timeframe for existing VASPs to comply with MiCA provisions. Specifically, VASPs registered with the FMA for AML purposes before December 30, 2024 are permitted to continue their operations until December 31, 2025. Within this period, these entities must obtain authorization under MiCA to continue their services beyond the transitional phase. This approach reflects Austria's commitment to aligning its national regulatory framework with MiCA provisions promptly.
Requirements for Obtaining a CASP License in Austria
Capital requirements for a CASP vary depending on what services the company will provide - from €50,000 to €150,000
Physical office requirements
A CASP shall have a registered office in Austria where it carries out at least part of their crypto-asset services.
Requirements for key persons
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Senior managers (directors):
- Number: MICA does not specify a minimum and maximum number of directors. However, MICA states (part 2, article 59) that there shall be at least several directors.
- Residency requirements: At least one director must be an EU resident.
- General requirements: Directories must have a solid reputation, necessary skills, and relevant experience.
- Required documents:
- a clean criminal record
- a detailed CV
- statements on time commitment and past professional conduct
-
Shareholders:
- Number: MICA does not specify a minimum and maximum number of shareholders.
- Residency requirements: There is no restriction.
- General requirements: Shareholders must have a solid reputation, necessary skills, and relevant experience.
- Required documents:
- a clean criminal record
- an ownership structure chart
Capital requirements
Capital requirements vary depending on what services the company will provide:
Class 1: A CASP authorized for the following crypto-asset services:
- execution of orders on behalf of clients
- placing of crypto-assets
- providing transfer services for crypto-assets on behalf of clients
- reception and transmission of orders for crypto-assets on behalf of clients
- providing advice on crypto-assets and/or
- providing portfolio management on crypto-assets
Minimum capital requirements - €50,000.
Class 2: A CASP authorized for any crypto-asset services under Class 1 and:
- providing custody and administration of crypto-assets on behalf of clients
- exchange of crypto-assets for funds and/or
- exchange of crypto-assets for other crypto-assets
Minimum capital requirements - €125,000.
Class 3: A CASP authorized for any crypto-asset services under Class 2 and:
- operation of a trading platform for crypto-assets
Minimum capital requirements - €150,000.
Documentation requirements
There are list of documents that must be submitted with the application:
-
Documents required for all CASPs:
- The articles of association of the applicant CASP
- Identity and proof of good repute, knowledge, skills, experience and of sufficient time commitment of the members of the management body
- Information relating to shareholders or members with qualifying holdings
- A program of operations setting out the types of crypto-asset services that the applicant CASP wishes to provide, including where and how these services are to be marketed
- A description of the applicant CASP’s prudential safeguards (insurance policy)
- A description of the applicant CASP’s governance arrangements and internal control mechanisms
- A description of the applicant CASP’s business continuity plan
- Detection and prevention of money laundering and terrorist financing (full packet of policies)
- Descriptions both in technical and non-technical language of applicant CASP’s IT systems and security arrangements
- A description of the applicant CASP’s procedures to handle complaints from clients
- Documents required in case CASP wishes to offer services in other countries:
- List of EU countries where the company wishes to offer its services
- Documents required for certain services (each of the 10 services requires its own documents):
- Custody and administration policy
- A description of the procedure for the segregation of client’s crypto-assets and fund
- The operating rules of the trading platform and market abuse detection
- Information on the exchange of crypto-assets for funds or other crypto-assets (commercial policy)
- The execution policy
- Information on the provision of advice or portfolio management on crypto-assets
- Information on transfer services
Taxes in Austria
The CIT rate of 23% applies to most businesses in Austria
Corporate Income Tax (CIT)
The standard rate of CIT is 23% of taxable income, irrespective of the level of income.
Corporations are subject to a minimum tax obligation, even in loss-making years. For private limited liability companies (GmbH), this amounts to EUR 500 annually, while for public limited companies (AG), it is EUR 3,500 annually.
CIT returns must be filed by 30 April of the following year or sent electronically via FinanzOnline by 30 June of the following year.
According to the Austrian cryptocurrency tax reform, which became effective on March 1, 2022: the special rate does not apply if deriving income from cryptocurrency is part of the main activity of the relevant business. Specifically, this means that it does not apply to businesses that trade cryptocurrencies on a commercial basis or businesses that mine cryptocurrency on a commercial basis. Income from such activities is taxed in accordance with the progressive income tax thresholds.
Capital Gains Tax (CGT)
Capital gains are generally taxed at a 27.5% rate, aligning with the taxation of income from capital investments.
Under the new tax crypto reform, all gains from the sale or realization of cryptocurrency are taxed as capital gains (so at a 27.5% rate), regardless of how the asset is held prior to sale. However, the exchange of one cryptocurrency for another is considered an intermediate transaction and is not taxable, so taxation only comes into effect when the crypto asset is converted into euros or another fiat currency.
With respect to cryptocurrency income earned beginning in calendar year 2025, persons required to withhold capital gains tax must now prepare a tax report (Steuerreporting) upon request by the taxpayer.
Personal Income Tax (PIT)
All natural persons who are domiciled in Austria or for whom Austria is a regular place of residence are taxed with unlimited income tax (“unlimited" meaning that basically all their Austrian and foreign income is subject to income tax). Furthermore, even persons who are not domiciled in Austria can be taxed on certain income generated in Austria.
Austria employs a progressive tax system for individuals, with rates ranging:
- €13,309–21,617 - 20%
- €21,618–35,836 - 30%
- €35,837–69,166 - 40%
- €69,167–103,072 - 48%
- €103,073–1,000,000 - 50%
- €1,000,001 and above - 55%
As of 2025, the PIT exemption threshold has been increased to EUR 13,308.
Frequently Asked Questions
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What is a CASP license in Austria?A CASP license in Austria is an authorization required for businesses offering crypto-related services, such as exchange platforms, wallet providers, and crypto custodians. It ensures compliance with the MiCA and Austrian financial laws.
-
Who issues the CASP license in Austria?The FMA is the regulatory body overseeing CASP licensing and compliance, ensuring adherence to AML and MiCA regulations.
-
What services can be provided under a CASP license?
It allows services such as:
- 1) Providing custody and administration of crypto-assets on behalf of clients
- 2) Operation of a trading platform for crypto-assets
- 3) Exchange of crypto-assets for funds
- 4) Exchange of crypto-assets for other crypto-assets
- 5) Execution of orders for crypto-assets on behalf of clients
- 6) Placing of crypto-assets
- 7) Reception and transmission of orders for crypto-assets on behalf of clients
- 8) Providing advice on crypto-assets
- 9) Providing portfolio management on crypto-assets
- 10) Providing transfer services for crypto-assets on behalf of clients
-
What are the key requirements to obtain a CASP license in Austria?Companies must meet physical office requirements, requirements for managers and shareholders, minimum capital requirements, documentation requirements.
-
Is it mandatory to have a physical office in Austria to obtain a CASP license?Yes, a local office in Austria is required for regulatory oversight.
-
Is there a minimum capital requirement for obtaining a CASP license?Yes, applicants must meet specific financial and operational adequacy standards, but the exact minimum capital depends on the services offered (€50,000, €125,000, €150,000).
-
What is the process for applying for a CASP license?The process involves submitting an application to FMA with detailed documentation on the company structure, management, AML policies, and financial plans, etc.
-
How long does it take to obtain a CASP license?The preparation of documents and the review process typically takes several months, depending on the completeness of the application and the authority's workload.
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Can foreign companies apply for a CASP license in Austria?Yes, foreign companies can apply for a CASP license, but they must establish a legal entity or branch in Austria or another EU country and comply with Austrian regulatory requirements.
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Can CASPs provide cross-border services in the EU?Yes, once licensed under MiCA, CASPs can offer services across the EU without needing separate licenses in other Member States.
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What happens if a company operates without a CASP license?
Operating without a CASP license in Austria is illegal and may result in:
- 1) Heavy fines and regulatory penalties
- 2) Business restrictions or forced shutdowns
- 3) Legal actions from the FMA
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