Crypto-asset Service Provider (CASP)
As per MiCA, CASP activities include:
the custody and administration of crypto assets on behalf of third parties,
the operation of a trading platform for crypto assets,
the exchange of crypto assets for fiat currency that is legal tender,
the exchange of crypto assets for other crypto assets,
the execution of orders for crypto assets on behalf of third parties,
the placing of crypto assets,
the reception and transmission of orders for crypto assets on behalf of third parties,
providing advice on crypto assets.
In summary, if a business provides any of the below services to citizens in Europe, it is deemed a CASP:
offering custody and administration of crypto assets on behalf of a third party,
offering a crypto exchange service or running an exchange,
offering crypto advisory services, or information defined as advice on investing in crypto assets. This does not include portfolio management services.
MiCA is a European framework that only applies to the 27 EU member states. It is not applicable outside of Europe.