Crypto Licensing

A CASP license (Crypto-Asset Service Provider license) is now essential for any business offering crypto trading, custody, or payment services in 2025. With the EU’s MiCA regulation coming into full force and global regulators tightening oversight, obtaining the right crypto VASP license is no longer optional—it’s a strategic necessity for scaling internationally, securing banking partnerships, and building customer trust. At BankMyCapital, we guide crypto businesses through CASP licensing in Europe and offshore jurisdictions, ensuring full MiCA compliance, regulatory approval, and successful crypto bank account opening.

Why CASP Licensing Matters for Crypto Business in 2026

With regulators worldwide introducing stricter oversight, operating without the proper licensing is no longer a sustainable option. A CASP license not only ensures legal compliance but also improves trust with banking partners, investors, and customers.

For crypto businesses aiming to scale internationally, licensing is now a strategic necessity, not just a regulatory formality.

What is a CASP License? Understanding Crypto Asset Service Provider Licensing

A CASP License authorizes businesses to operate legally in the crypto sector while complying with financial regulations.

It applies to services such as:

• Crypto trading platforms and exchanges
• Custody and safekeeping of crypto-assets
• Issuance of crypto-assets and stablecoins
• Crypto payment processing
• Advisory and brokerage services

Under MiCA, CASPs must meet unified requirements across the European Union.

MiCA CASP License vs Offshore VASP: Comparing EU and International Crypto Licensing

As the crypto industry continues to expand globally, regulatory compliance is becoming essential for any company offering crypto-related services. A Crypto-Asset Service Provider (CASP) license allows businesses to legally operate in areas such as trading, custody, issuance, and advisory services.

At BankMyCapital, we support companies seeking CASP licensing both in Europe under MiCA and in offshore jurisdictions. Just as importantly, we help businesses complete the next critical step: crypto bank account opening for licensed CASPs and VASPs.

Whether you are launching an exchange, custody platform, or crypto payment service, securing the right license is often the foundation for successful crypto VASP bank account opening and long-term scalability.

Feature	MiCA CASP License (Europe)	Offshore VASP License
Regulatory Reputation	High global trust and credibility	Moderate, depends on jurisdiction
Crypto Bank Account Opening	Easier access to EU banking partners	Limited access to EU banks
Compliance Requirements	Strict AML/KYC and governance rules	Lower or moderate compliance burden
Market Access	Full EU passporting across EEA	Primarily non-EU or emerging markets
Setup and Maintenance Cost	Higher due to regulatory standards	Lower and faster setup
Consumer and Partner Trust	Strong institutional confidence	Less prestige in regulated markets
Best For	Firms targeting Europe and long-term scaling	Startups seeking flexibility and affordability

CASP Licensing in Europe: MiCA and Unified Standards

The European Union is entering a new regulatory era for crypto businesses through the Markets in Crypto-Assets Regulation (MiCA). This framework establishes a harmonized licensing regime for Crypto-Asset Service Providers (CASPs) across all EU member states.

MiCA is designed to eliminate fragmented national rules, create consistent compliance expectations, and strengthen trust in the crypto sector through stricter governance, transparency, and consumer safeguards.

Key Features of MiCA for CASPs 

The European Union is entering a new regulatory era for crypto businesses through the Markets in Crypto-Assets Regulation (MiCA). This framework establishes a harmonized licensing regime for Crypto-Asset Service Providers (CASPs) across all EU member states.

MiCA is designed to eliminate fragmented national rules, create consistent compliance expectations, and strengthen trust in the crypto sector through stricter governance, transparency, and consumer safeguards.

Passporting Across the EU (Single License, EU-Wide Access)

One of the most valuable advantages of MiCA is the passporting mechanism.

A CASP licensed in one EU member state can legally provide services across the entire European Economic Area (EEA) without needing separate authorizations in each country.

This makes MiCA licensing especially attractive for businesses planning to scale across Europe, expand operations efficiently, and access multiple markets under one regulatory approval.

MiCA Capital Requirements for CASPs

MiCA introduces clear minimum capital thresholds depending on the type of crypto services offered. These requirements ensure CASPs maintain financial stability and can meet operational obligations.

Minimum capital levels include:

• €50,000 – crypto-to-crypto exchanges or custody services without fiat involvement
• €125,000 – crypto-to-fiat trading platforms and brokerage services
• €150,000 – stablecoin issuers and asset-referenced token providers

These thresholds are designed to reduce systemic risk and ensure providers can withstand market volatility.

AML and KYC Compliance Obligations

Under MiCA, CASPs must implement robust Anti-Money Laundering (AML) and Know Your Customer (KYC) frameworks.

This includes:

• Customer identity verification
• Risk-based transaction monitoring
• Suspicious activity reporting
• Ongoing compliance audits

CASPs are also expected to align with broader EU AML rules, including the EU Anti-Money Laundering Directive.

Consumer Protection and Transparency Rules

MiCA places strong emphasis on consumer trust. CASPs must provide clear disclosures about:

• Service terms and fees
• Asset risks and volatility
• Custody and safeguarding arrangements
• Conflicts of interest

This reduces misleading marketing practices and strengthens accountability across the crypto industry.

Operational and Internal Control Requirements

To qualify for authorization, CASPs must demonstrate strong operational resilience.

MiCA requires:

• Secure IT and cybersecurity frameworks
• Business continuity planning
• Risk management and internal governance procedures
• Adequate capital reserves beyond minimum thresholds

These requirements ensure CASPs operate with the same seriousness expected of traditional financial institutions.

Director Residency and MLRO Compliance Requirements

MiCA also introduces governance standards that focus on accountability and regulatory oversight.

Key requirements include:

• At least one director must reside in the EU, ensuring local responsibility and supervision
• Appointment of a Money Laundering Reporting Officer (MLRO), responsible for overseeing AML compliance and reporting obligations

The MLRO plays a central role in ensuring the CASP meets regulatory expectations and maintains strong controls against financial crime.

Why These MiCA Standards Matter for Crypto Bank Account Opening

For many crypto businesses, MiCA compliance is not only about licensing—it directly impacts your ability to secure and maintain essential fiat rails. In the eyes of traditional financial institutions, a MiCA license acts as a “gateway credential” that bridges the gap between the volatile crypto world and the regulated banking sector.

Banks and EMIs are significantly more likely to approve crypto corporate bank account opening in Europe when the applicant is MiCA-aligned. By 2026, regulators will move from onboarding to active supervision, meaning banks will prioritize partners who demonstrate:

• Verified Governance: Clear role allocation and fit-and-proper management that mirrors traditional bank-grade standards.
• Strong AML/KYC Procedures: Implementing advanced protocols like the Travel Rule to mitigate illicit activity risks.
• An Appointed MLRO: A dedicated, often local, compliance officer who handles direct communication with regulators.
• EU Regulatory Oversight: The security of being supervised by National Competent Authorities (like the KNF or CNB) and the EBA.

Without these standards, crypto firms are often relegated to the “high-risk” category, alongside industries like iGaming or adult entertainment, which face frequent de-risking and limited banking options. Conversely, a MiCA CASP license provides a low-risk foundation that simplifies cross-border operations and ensures your access to the European financial infrastructure remains stable and scalable.

Popular EU Jurisdictions for CASP Licensing

Choosing the right EU jurisdiction is one of the most strategic decisions when applying for a CASP license under MiCA. Beyond regulatory approval, the jurisdiction you select will impact your compliance costs, operational setup, and your ability to successfully complete crypto bank account opening in Europe.

Some EU countries have built strong fintech ecosystems, clear licensing pathways, and more developed infrastructure for regulated crypto businesses.

Below are the most popular jurisdictions for CASP licensing and banking access.

Estonia

Estonia is one of Europe’s most well-known jurisdictions for digital business formation and crypto regulation. It offers a highly structured licensing framework and a tech-forward environment supported by strong compliance standards.

• Capital Requirement: €250,000 (for full CASP operations)
• Directors: Minimum of one; non-residents allowed, but a local compliance officer is mandatory
• MLRO: Required, with local presence
• Ideal For: Startups and tech-driven crypto businesses 

Estonia is widely recognized for its e-Residency program, which allows entrepreneurs to manage EU-based companies remotely while maintaining regulatory credibility.

Ideal for: Startups and tech-driven crypto businesses seeking EU legitimacy and structured compliance.

Lithuania

Lithuania has become a major European hub for fintech licensing, offering one of the most accessible environments for crypto companies entering the EU market.

• Capital Requirement: €125,000 for crypto-to-fiat CASP services
• Directors: Foreign nationals allowed under fit-and-proper rules
• MLRO: Must reside in Lithuania

Lithuania is especially attractive for companies that want both CASP licensing and smoother access to EMI partnerships, making it a strong option for crypto business bank account Europe onboarding.

Ideal for: Small to medium-sized crypto businesses seeking cost-effective EU entry with strong banking potential.

Poland

Poland is increasingly viewed as a crypto-friendly jurisdiction with affordable operating costs and growing interest from fintech providers.

• Capital Requirement under MiCA: €50,000–€150,000 depending on services
• Directors: Non-resident directors allowed, with a compliance officer required
• MLRO: Mandatory for AML oversight

While Poland’s current framework is evolving with KNF, MiCA will standardize CASP requirements and create clearer pathways for licensing and crypto VASP bank account opening across the EU.

Ideal for: New crypto firms looking for affordable EU market entry and long-term MiCA alignment.

Malta

Malta is one of the most established jurisdictions for regulated crypto operations, often chosen by larger firms seeking institutional credibility.

• Capital Requirement: €730,000 for a Virtual Financial Asset (VFA) license
• Directors: At least three directors, one locally resident
• MLRO: Mandatory, with local presence

Known as “Blockchain Island,” Malta offers a comprehensive regulatory regime under the Malta Financial Services Authority (MFSA), making it one of the strongest options for firms prioritizing reputation and compliance.

Ideal for: Established businesses seeking high regulatory trust and long-term EU positioning.

MiCA Status in Key EU Countries: Transitional Rules for VASPs

As MiCA comes into force, EU crypto regulations are harmonizing CASP licensing across member states. Existing crypto businesses that operated before 30 Dec 2024 can take advantage of transitional periods, allowing them to continue under national VASP regimes while applying for full CASP licenses. These transitional rules differ by country, so understanding local timelines is essential for compliance and banking access.

Poland: Transitional VASP Access

Transitional Deadline: Existing VASPs registered before 30 December 2024 can operate under legacy rules until 1 July 2026. However, to avoid a “hard stop” on that date, firms are strongly advised to submit their CASP application to the KNF by 1 May 2025.

Key Authority: Oversight is transitioning from the Tax Administration (GIIF) to the Polish Financial Supervision Authority (KNF).

Key Features:

• New Regulatory Framework: The Act on Crypto-Assets Market (Act No. 1424) aligns Poland with MiCA, introducing a full licensing regime to replace simple registration.
• Local Substance: Unlike the old VASP rules, CASP licensing requires a physical office in Poland and at least one EU/EEA resident director with proven “fit and proper” standing.
• Capital Requirements: Tiered by service type: €50,000 (advisory), €125,000 (exchanges/fiat-to-crypto), and €150,000 (trading platforms).

Czech Republic: Limited Transitional Period

Transitional Deadline: VASPs operating before 30 December 2024 can operate under legacy rules until 1 July 2026, provided they submit a CASP application by 31 July 2025.

Key Authority: Regulated by the Czech National Bank (CNB) and the Financial Analytical Office (FAÚ) for AML oversight.

Key Features:

• Legislation updated via the Digital Finance Act (Act No. 31/2025 Coll.) to align with MiCA.
• After the transitional window, full MiCA CASP authorization is mandatory to serve EU clients.
• Provides continuity for existing operations while regulators process the high volume of CASP applications.

Italy: Shortened Transitional Deadlines

Transitional Deadline: Italy implemented a tiered transition; while the absolute end of the grace period is 1 July 2026, the deadline to submit the MiCAR authorization application was 30 June 2025 (with certain conditional extensions to December 2025).

Key Authority: Oversight is split between CONSOB (market conduct) and Banca d’Italia (prudential supervision).

Key Features:

• Requires registration with the OAM (Organismo Agenti e Mediatori) for legacy status.
• Firms must plan for full MiCA compliance sooner than in more flexible jurisdictions to ensure uninterrupted EU operations.
• Highly structured application process emphasizing local substance and consumer protection.

Travel Rule in the EU and Its Global Implementation

Mandate: The Transfer of Funds Regulation (TFR – EU 2023/1113) requires that crypto transfers include the sender’s and receiver’s identification data, similar to bank wires.

Implementation: Required for all MiCA-regulated CASPs as of 30 December 2024, with no transitional grace period for this specific rule.

Global Alignment:

• Many non-EU jurisdictions, such as the UAE (VARA), Singapore (MAS), and Switzerland (FINMA), enforce Travel Rule standards to align with FATF Recommendation 16.
• Standard thresholds for data sharing typically start at USD/EUR 1,000, though some jurisdictions (like Switzerland) have a zero-threshold policy.

Global Banking Access: Offshore VASPs often implement Travel Rule systems to maintain access to “global banking partners” and prevent being de-risked by correspondent banks.

Offshore Jurisdictions for Crypto Licensing

Offshore jurisdictions provide cost-effective and less burdensome regulatory environments, making them attractive for startups or businesses targeting non-EU markets.

Mauritius: VASP Setup

• Capital Requirement: Flexible; depends on business type.
• Directors: Minimum of one; residency not mandatory.
• MLRO: Required for compliance.
• Key Features:
  • Regulated under the Virtual Asset and Initial Token Offering Services Act (VAITOS).
  • Strong AML/KYC standards required for banking access.
  • Travel Rule compliance recommended for international operations.

Ideal For: Businesses targeting Africa, Middle East, and Asia with a regulated yet flexible setup.

Seychelles: VASP Setup

• Capital Requirement: Minimal and flexible.
• Directors: At least one; recent updates suggest a preference for local substance (e.g., FSA guidelines).
• MLRO: Required under the VASP Act 2024.

Key Features:

• Quick and cost-effective licensing process managed by the Seychelles Financial Services Authority.
• Internationally recognized for offshore crypto operations.
• Startups often use it as a stepping stone to enter EU or global markets.

Ideal For: Early-stage crypto companies seeking flexibility and low costs.

Costa Rica: VASP Setup (Legal Opinion)

• Capital Requirement: No formal requirement; depends on incorporation structure.
• Directors: At least one local or foreign director.
• MLRO: Recommended for credibility.

Key Features:

• Legal opinion confirms crypto businesses can operate under general financial laws; oversight is via SUGEF (Superintendencia General de Entidades Financieras).
• Strong AML/KYC and Travel Rule systems advised to secure international banking.
• Suitable for regional operations in Latin America.

Ideal For: VASPs looking for a compliant legal environment without a full licensing regime.

El Salvador: VASP Setup

• Capital Requirement: Flexible; no strict thresholds.
• Directors: At least one; residency optional.
• MLRO: Recommended for credibility.

Key Features:

• Bitcoin legal tender boosts crypto adoption; regulated by the National Commission for Digital Assets (CNAD).
• Growing VASP ecosystem for exchanges, wallets, and payment processors.
• Requires robust compliance systems for international partnerships.

Ideal For: Crypto businesses targeting Latin American markets and cross-border operations.

UAE: VARA, DIFC, and ADGM VASP Setup

• Capital Requirement: Varies by zone; VARA and ADGM differ significantly.
• Directors: At least one; local residency rules vary by jurisdiction.
• MLRO: Mandatory; Travel Rule compliance required.

Key Features:

• VARA (Dubai Mainland): Tailored crypto licensing via the Virtual Assets Regulatory Authority.
• ADGM (Abu Dhabi): Institutional-focused licensing with international oversight via the FSRA.
• Different rules in Dubai and Abu Dhabi require zone-specific compliance.

Ideal For: Businesses seeking Middle Eastern market access with internationally recognized regulatory compliance.

Georgia: VASP Setup

• Capital Requirement: Flexible; no minimum share capital required for registration.
• Directors: At least one; residency is required for certain roles (e.g., NBG registration).
• MLRO: Recommended for credibility and banking access.

Key Features:

• Free zones provide tax incentives and simplified incorporation.
• Crypto exchanges and VASPs can operate cost-effectively while building compliance systems under National Bank of Georgia oversight.
• Travel Rule adoption recommended for EU or global clients.

Ideal For: Cost-sensitive startups and crypto exchanges targeting Eurasian and EU-linked markets.

DAC8: EU Digital Asset Reporting 

• EU directive DAC8 (Directive 2023/2226) requires crypto providers to report cross-border transactions for tax purposes.
• Applies to MiCA CASPs and impacts global VASPs serving EU clients.
• Ensures tax compliance alongside licensing obligations.

Examples of MiCA-Regulated Companies

Some of the major firms that have obtained or are progressing toward MiCA CASP authorization:

• Binance EU (Greece): MiCA-regulated entity, EU-wide access.
• Coinbase (Luxembourg):  Full MiCA authorization.
• Revolut (Cyprus): Offers crypto services under CySEC/MiCA compliance.
• Others are in advanced stages of MiCA application, highlighting the growing adoption across Europe. 

Choosing Between Europe and Offshore

Choosing between Europe (MiCA) and offshore jurisdictions depends on your business goals, budget, and target market.

• Europe (MiCA): High regulatory standards, strong AML/KYC, EU passporting, global trust. Higher compliance costs and more complex licensing.
• Offshore: Cost-effective, faster setup, lower compliance burden. Less market credibility and limited access to highly regulated regions.

Feature	Europe (MiCA)	Offshore (Mauritius, Seychelles, Costa Rica, El Salvador, UAE, Georgia)
Regulatory Standard	High, EU-wide harmonized	Moderate, varies by jurisdiction
AML/KYC Compliance	Mandatory and strict	Often recommended; some flexibility
Market Access	Full EU via passporting	Regional/global depending on local laws
Setup Costs	Higher (licensing + capital)	Lower, flexible thresholds
Operational Costs	Higher (staff, reporting, compliance)	Lower
Prestige/Credibility	High, globally recognized	Lower, less recognized internationally
Speed of Licensing	Moderate to slow	Fast to moderate
Ideal For	Startups and established businesses seeking EU legitimacy	Startups and cost-sensitive businesses targeting non-EU markets

 

Why Choose BankMyCapital?

At BankMyCapital, we are your strategic partner for securing CASP licenses worldwide. Whether you are navigating MiCA in Europe or scaling in offshore jurisdictions, we provide the expertise to ensure your business is compliant and bankable.

Our Services Include:

• Jurisdiction Selection: Data-driven analysis to find the optimal balance between regulatory prestige and operational costs.
• Document Preparation: Expert drafting of AML/KYC policies, business plans, and financial forecasts required by regulators.
• Regulatory Guidance: Direct support for “fit and proper” requirements and local substance compliance.
• Application Management: End-to-end handling of the submission process with authorities like the KNF, VARA, or CNB.
• Banking Assistance: Exclusive access to global banking partners and crypto-friendly financial institutions to secure your fiat rails.

Get Started Today

Whether your goal is to enter Europe’s harmonized MiCA-regulated crypto market or establish a cost-effective offshore VASP, BankMyCapital provides end-to-end support for a smooth and compliant licensing journey. We guide you through every step of the process, from jurisdiction selection and document preparation to regulatory submission and bank account setup.

With our expertise, you can secure your CASP or VASP license efficiently, meet all AML/KYC and compliance requirements, and gain access to global banking and payment networks. Don’t let complex regulations slow your growth, let BankMyCapital simplify the process, save you time, and help you unlock new business opportunities in the international crypto ecosystem.

Contact us today to begin your CASP licensing journey and take the first step toward expanding your crypto operations globally.

FAQ 

Frequently Asked Questions (FAQ)

What is the main difference between a VASP and a MiCA CASP?

A VASP (Virtual Asset Service Provider) is a term defined by the FATF and used globally for national registrations. In the EU, these national rules are being replaced by the CASP (Crypto-Asset Service Provider) license under MiCA. The key difference is that a CASP license allows you to “passport” your services across all 27 EU member states, whereas a VASP registration is typically limited to the country where it was issued.

Can I still operate in Poland or the Czech Republic without a MiCA license?

Yes, but only for a limited time. If you were already operating as a registered VASP before 30 December 2024, you can utilize the transitional period until 1 July 2026. However, you must submit your full MiCA CASP application by 1 May 2025 (in Poland) or 31 July 2025 (in the Czech Republic) to ensure you can continue operating while your application is processed.

Why is the UAE often split into Dubai (VARA) and Abu Dhabi (ADGM)?

The UAE uses a “tri-regulatory” approach. VARA is the world’s first independent crypto regulator, covering Dubai (excluding the DIFC). ADGM (Abu Dhabi) and DIFC (Dubai) are “financial free zones” with their own independent,common-law based regulators (FSRA and DFSA). Businesses must choose the zone that best fits their target client base 

Does the “Travel Rule” apply to offshore VASPs?

Yes. Jurisdictions like the UAE and Mauritius have adopted FATF Recommendation 16. Implementing Travel Rule software (e.g., Notabene) is essential for maintaining global banking partners. Without it, banks often classify crypto firms as “High Risk,” similar to how they treat adult dating or iGaming entities, making account maintenance difficult.

What is DAC8, and does it affect my non-EU crypto business?

DAC8 requires crypto providers to report transaction data to EU tax authorities. If your platform has EU-resident users—even if you are based in the Seychelles—you must collect and report their tax identification data starting 1 January 2026.

Is it possible to set up a crypto exchange in Georgia?

Yes. Georgia offers Free Industrial Zones (FIZ) with 0% Corporate Tax. Since 2023, the National Bank of Georgia (NBG) requires all exchanges to register as VASPs. It remains an affordable “low-to-mid risk” setup compared to the higher scrutiny of a low-risk corporate account.

What are the capital requirements for a MiCA CASP license?

Requirements are tiered:

• €50,000: Advisory or order execution.
• €125,000: Crypto-to-fiat exchanges.
• €150,000: Trading platforms and custody. These tiers ensure you are adequately capitalized to secure a crypto corporate bank account.

Can I get a VASP license in Costa Rica?

Costa Rica does not have a formal “VASP license.” Instead, businesses operate via a Legal Opinion confirming compliance with general AML laws overseen by SUGEF. This is a popular “stepping stone” for startups that aren’t yet ready for full EU or UAE regulatory costs.

Why is a local director often required for a CASP license?

Regulators require “Local Substance.” Under MiCA, you must have at least one EU/EEA resident director and a physical office. This ensures the regulator has a point of contact within their jurisdiction who is legally liable for compliance failures.

How long does it take to open a bank account for a licensed CASP?

Even with a license, onboarding takes 3 to 6 months. Banks perform “Enhanced Due Diligence” (EDD) on your UBOs and AML manuals. BankMyCapital specializes in crypto corporate bank account opening, streamlining the “Compliance Folder” to meet institutional standards.

How much does a CASP license cost?

The cost of a CASP license varies significantly by jurisdiction and depends on capital requirements, legal fees, compliance setup, and ongoing operational costs. In Europe under MiCA, you’ll need minimum share capital, additionaly budget for legal and compliance costs of €30,000–€100,000 depending on complexity, plus annual audit and reporting fees of €15,000–€50,000. Offshore jurisdictions like Mauritius, Seychelles, or Georgia offer more affordable setups with lower or flexible capital requirements and faster licensing timelines, often costing €20,000–€60,000 in total setup fees. BankMyCapital provides transparent cost breakdowns and helps you select the most cost-effective jurisdiction that aligns with your business goals and target markets.

Which EU country is best for CASP licensing?

The “best” EU country for CASP licensing depends on your business model, budget, and target market. Lithuania is often the most cost-effective option, requiring €125,000 in capital for crypto-to-fiat services, allowing foreign directors, and offering strong access to EMI partnerships for crypto bank account opening. Estonia is ideal for tech-driven startups due to its e-Residency program and digital infrastructure, though it requires €250,000 in capital for full CASP operations. Poland offers affordable entry (€50,000–€150,000 depending on services) and is suitable for new firms planning long-term EU market presence. Malta provides the highest regulatory prestige with €730,000 capital requirements. Each jurisdiction has different director residency requirements, MLRO obligations, and banking access levels. BankMyCapital helps you evaluate these factors and select the optimal jurisdiction based on your compliance readiness, capital availability, and growth strategy.

Do I need a CASP license to operate a crypto exchange?

Yes. If you operate a crypto exchange serving EU clients after 30 December 2024, you need a MiCA CASP license to legally provide services across Europe. This applies to both crypto-to-crypto exchanges and crypto-to-fiat trading platforms. The only exception is if you were already operating as a registered VASP before 30 December 2024, in which case you can utilize the transitional period until 1 July 2026 – but you must submit your full CASP application by specific deadlines (e.g., 1 May 2025 in Poland, 31 July 2025 in the Czech Republic) to continue operations while your application is processed.

For exchanges targeting non-EU markets, you can operate under offshore VASP frameworks in jurisdictions like the UAE (VARA license), Mauritius, Seychelles, or Georgia. However, even offshore exchanges often pursue MiCA licensing to access EU banking partners, institutional investors, and the broader European market. Operating without proper licensing exposes your business to regulatory penalties, banking de-risking, and account closures. BankMyCapital guides exchanges through the full CASP licensing process and ensures you can successfully complete crypto bank account opening with regulated financial institutions.