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How to check whether a crypto exchange is authorized under MiCA

By Freedom251 Team · · 11 min read

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To check whether a crypto exchange is authorized under the EU’s Markets in Crypto-Assets Regulation (MiCA), identify the exact legal entity in your customer contract, search that entity in the European Securities and Markets Authority (ESMA) Interim MiCA Register, confirm its home-country competent authority, and match the listed service scope to what you intend to use. If the entry is missing, unclear, or relies on an old national registration or an Article 60 claim, ask the home regulator to verify it before depositing funds.

This process checks regulatory authorization and the activities covered by it. It does not prove that an exchange is solvent, that customer assets are risk-free, that every product is compliant, or that customer support will be good.

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What a MiCA authorization actually tells you

MiCA is the European Union’s framework for certain crypto-assets and crypto-asset services. A business that provides covered services to EU clients generally needs a status recognized under MiCA or must rely on a specific route available to an already regulated financial entity. The relevant authorization belongs to a legal entity, not automatically to a trading brand, website, parent company, or every subsidiary in a corporate group.

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A crypto-asset service provider (CASP) authorization is also activity-specific. The register can show that an entity is permitted to provide particular services, but that does not mean every feature displayed in a consumer app is covered. You must compare the authorization’s service categories with the action you plan to take.

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As of 13 October 2026, the EU-wide MiCA transition has expired. ESMA stated that after 1 July 2026, an entity serving EU clients without a MiCA licence must cease providing those crypto-asset services. A historical national registration or a statement that a company has operated for years is therefore not, by itself, evidence of current MiCA authorization.

The five-minute verification workflow

  1. Identify the contracting entity. Read the exchange’s terms of service, account agreement, regulatory disclosures, and any onboarding or migration notice. Record the complete company name and country, including legal suffixes such as “S.A.”, “Ltd”, or “GmbH”.
  2. Search ESMA’s Interim MiCA Register. Use the official register linked from ESMA’s MiCA or Databases and Registers pages. Search the legal entity name rather than only the brand. ESMA reported that the register’s latest displayed version was updated on 7 October 2026.
  3. Confirm the home Member State and regulator. Note the national competent authority (NCA) shown for the entity. If the result is absent, ambiguous, or appears stale, use that NCA’s official register or contact channel for confirmation.
  4. Read the service scope. Check that the listed authorization covers the exact service you need, such as operating a trading platform, exchanging crypto-assets for funds or other crypto-assets, custody, transfers, or order execution.
  5. Investigate exceptions carefully. If the business cites a transitional registration or an Article 60 route instead of a CASP authorization, verify the legal entity, services, and regulatory basis with the home NCA before using the account.

Step 1: Find the exact legal entity behind the exchange

Start inside the exchange’s own legal documents. Look for headings such as “Legal information,” “Terms of service,” “User agreement,” “Regulatory information,” “Privacy notice,” or “Entity disclosure.” The name may also appear on an account-opening screen, invoice, withdrawal confirmation, or migration email.

Record these details

  • Full legal name, including punctuation and corporate suffix.
  • Country and, where stated, the registered office.
  • Company or registration number.
  • The URL or app environment used by EU customers.
  • The entity named as your contracting counterparty, not merely a parent or holding company.

Do not assume that one group company’s authorization covers another. A single brand can route customers in different countries to different subsidiaries. Copy the name exactly; small differences can identify separate companies.

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When the documents name more than one entity

Some platforms use one company for brokerage, another for custody, and another for payments. List each entity and the function it performs. An authorization for a custody subsidiary does not establish that a separate exchange subsidiary may operate a trading platform. If the terms are inconsistent, pause and request written clarification naming the entity that will provide each service.

Step 2: Search the ESMA Interim MiCA Register

ESMA’s Interim MiCA Register is the EU-wide starting point. ESMA explains that its information is supplied by NCAs and the European Banking Authority and that the register is republished periodically. Because it is updated in releases rather than continuously, note the displayed update date when you save a result; the latest date reported for this check is 7 October 2026.

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How to search effectively

  1. Open the register from ESMA’s official MiCA or Databases and Registers page.
  2. Search the complete legal name copied from the contract.
  3. Try alternate punctuation or the company’s registration number if the first search returns nothing.
  4. Open the matching record and capture the entity name, Member State, NCA, authorization status, and service categories.
  5. Save a dated PDF or screenshot for your records. A later register release may change the displayed information.

Searching only a brand name can produce a false match or no match. Conversely, a similar name may belong to an unrelated company. Treat the legal name and country as the identity key.

What a positive result should contain

A useful record identifies the authorized entity and the Member State responsible for supervision. It should also indicate the services for which the authorization is effective. Read the record itself rather than relying on a search-result preview or a marketing statement copied onto the exchange website.

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Step 3: Confirm the home Member State and competent authority

The NCA in the entity’s home Member State is the direct follow-up authority. Use the authority’s own register or contact channel when the ESMA entry is unclear, when the exchange gives a different legal name, or when the record appears inconsistent with a recent migration notice.

Questions to ask the NCA

  • Is the named legal entity currently authorized as a CASP under MiCA?
  • Which services are included in its authorization?
  • Is the entity relying on a notified Article 60 route rather than a CASP authorization?
  • Does the authorization apply to the website or app that accepted your account?
  • Is there any restriction, suspension, withdrawal, or limitation relevant to the service?

Use the contact details published by the NCA, not an email address supplied only in an unsolicited message. Regulators may not disclose confidential supervisory information, but they can often confirm the status and scope of a public authorization.

Step 4: Match the authorization to what you will do

MiCA authorization is not a single all-purpose permission. Compare the service description in the register with your intended activity. The following examples show why the distinction matters.

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Your intended activity What to look for in the authorization Why the match matters
Buying or selling crypto-assets for euros or another fiat currency Exchange of crypto-assets for funds A platform authorized only for crypto-to-crypto exchange may not cover this activity.
Swapping one crypto-asset for another Exchange of crypto-assets for other crypto-assets Fiat exchange and crypto-to-crypto exchange are separate service descriptions.
Leaving assets in the platform account Custody and administration of crypto-assets on behalf of clients Trading authorization alone does not establish permission to safeguard client assets.
Sending assets to an external wallet Transfer services for crypto-assets on behalf of clients Transfers can be a distinct regulated service even when the same app offers trading.
Submitting orders that the platform executes Execution of orders on behalf of clients An operator may display a market without being authorized for every order-handling function.
Using a platform where third parties trade with each other Operation of a trading platform for crypto-assets Operating the venue is different from merely routing or executing an order.

The table is a practical matching aid, not a substitute for the legal wording of the record. If your planned feature combines several functions, verify every relevant category. Staking, lending, derivatives, token issuance, payment services, and other products may involve additional rules or may fall outside the service you are checking; do not infer coverage from the exchange’s menu labels.

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How to compare two exchanges’ authorization claims

When two platforms make different regulatory claims, compare them on the same five axes. Brand size, advertising, trading volume, and user ratings do not answer the authorization question.

Comparison axis Evidence to record Decision rule
Legal entity Exact contracting company and country Reject a claim that names only a brand or an unrelated affiliate.
Home regulator Member State and NCA Use the NCA to resolve discrepancies or missing details.
Service scope Authorized categories Choose only a platform whose scope covers your intended activity.
Legal route Current MiCA authorization or documented Article 60 notification Do not treat a legacy registration as a current MiCA licence.
Freshness and corroboration Register update date and NCA confirmation where needed Escalate a stale, conflicting, or unexplained record before depositing funds.

Legacy registrations and the end of the transition

MiCA included a transitional regime for certain providers that were lawfully operating before 30 December 2024. Each Member State could shorten the transition or decline to use it. ESMA clarified that operating during a transition did not itself make a company a MiCA-authorized CASP.

That distinction is now decisive. ESMA’s 17 April 2026 statement says: “After this date, any entity providing crypto-asset services to EU clients without a MiCA licence will be in breach of EU law and must cease offering such services.” The statement identifies 1 July 2026 as “this date.” Therefore, a platform that shows an old national registration, an earlier virtual-asset registration, or a historical passporting notice must still demonstrate a current MiCA basis for serving EU clients after that date.

Red flags in legacy claims

  • “We are grandfathered” with no current ESMA or NCA record.
  • A registration date before MiCA with no explanation of present status.
  • A claim that the transition lasts until a later date without identifying the Member State and legal basis.
  • A licence belonging to a parent company while your contract names a different subsidiary.
  • A statement that the platform is “regulated in Europe” without naming the regulator or service scope.

Do not describe any of these facts as MiCA authorization unless the current legal entity and service scope are verified.

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Understanding an Article 60 route

MiCA permits certain already regulated financial entities to provide eligible crypto-asset services through an Article 60 notification route, subject to the applicable requirements. Examples can include a bank or investment firm, but the relevant question is always the exact entity and the exact services notified.

An Article 60 entity may not need to appear in the CASP authorization list in the same way as a newly authorized CASP. Conversely, the route is not a blanket exemption for any exchange that mentions another licence. Services outside the eligible notification may require a separate MiCA CASP authorization.

How to verify the claim

  1. Identify the regulated financial entity named in the exchange’s disclosure.
  2. Ask which Article 60 services were notified and on what date.
  3. Confirm that the entity, not merely its parent or technology provider, contracts with you.
  4. Ask the home NCA to corroborate the route and the relevant services.
  5. Check whether your planned activity falls within the notified scope.

Absence from a CASP list alone does not prove that an Article 60 route is invalid. It does mean you need a direct explanation and regulator confirmation before relying on it.

What to do when the register and the exchange disagree

The entity is not found

Recheck spelling, corporate suffixes, country, and registration number. Search for a subsidiary named in the contract rather than the trading brand. If no match appears, contact the home NCA. Until the NCA confirms a current legal basis, do not treat the platform as MiCA-authorized.

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The name is similar but not identical

Compare the registered office, company number, and contracting entity. A near match is not enough. Ask the exchange to explain the relationship in writing and identify which company provides each service.

The record is present but the service is missing

Do not assume that a broad “crypto services” label includes your activity. Ask the NCA or the provider for the formal service category. If the desired function is outside the scope, choose a service that is explicitly covered or do not use that feature.

The exchange says the record is outdated

Because ESMA republishes the interim register periodically, a recent authorization or amendment may not appear immediately. Request the NCA’s confirmation, record the date and reference, and wait for a clear answer before funding the account.

The exchange refuses to identify the entity

This is a practical stop signal. Without the contracting legal entity, you cannot match the authorization, regulator, or service scope. Do not rely on screenshots, badges, or verbal assurances that omit the company name.

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Keep an evidence file

Authorization status can change. Before opening an account, save the following in a dated folder:

  • The terms or account agreement naming the legal entity.
  • A copy or screenshot of the ESMA register result and its displayed update date.
  • The NCA register entry or written response, if you requested confirmation.
  • The service categories relevant to your planned use.
  • Any explanation of an Article 60 route or a recent migration.

Repeat the check after a material change, such as a new contracting company, a move to a different EU website, a major product launch, a regulatory notice, or a long period since your last review. A saved result proves what was displayed on that date; it does not guarantee future authorization.

What this check cannot establish

  • Solvency: Authorization is not a promise that the exchange can meet every obligation.
  • Asset safety: MiCA status does not eliminate market, custody, cyber, or operational risks.
  • Product compliance: Individual tokens, promotions, derivatives, lending, or other features may have separate legal treatment.
  • Execution quality: The register does not measure spreads, uptime, liquidity, fees, or support.
  • Tax treatment: Authorization does not determine your reporting or tax obligations.

Use the authorization check as a regulatory identity and scope test, then assess security controls, withdrawal policies, fees, conflicts of interest, and the legal terms separately.

A printable MiCA verification checklist

  • Have I copied the exact legal entity from the contract?
  • Does the ESMA Interim MiCA Register contain that entity?
  • What is the home Member State and NCA?
  • Is the status a current MiCA authorization rather than a historic national registration?
  • Which service categories are listed?
  • Do those categories cover trading, exchange, custody, transfers, execution, or platform operation as I intend to use them?
  • If the exchange cites Article 60, have I verified the entity, notification, and service scope with the NCA?
  • Have I recorded the register’s 7 October 2026 update date or the latest date displayed when I checked?
  • Did I save the evidence and note the date of my verification?
  • Am I avoiding the assumption that authorization guarantees solvency, safety, or every product?

The practical decision

Proceed only when the legal entity in your customer relationship matches a current ESMA or regulator-confirmed status and the authorized services cover the activity you plan to use. If the evidence depends on an old registration, an unexplained affiliate, an incomplete service list, or an unverified Article 60 assertion, treat the status as unresolved and ask the home NCA before transferring funds.

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consumer protectioncrypto exchangescryptocurrencyESMAEU regulationMiCA

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