The Cyprus-Baltic Business Association Was Successfully Launched
- Company&FundAdministration
- Cryptocurrency
- Licensing
- MarketEntrance
- Outsourcing
- RegulatoryCompliance&Reporting
- Relocation
CASP and CySEC: Major requirements
Initial capital adequacy requirements are dependable on the type of crypto-services a CASP wishes to provide as well as the activities they set to perform. These are broken down into three different CASP class types (as stated on the CySEC website).
There are also additional requirements for the CASP service providers and we are able to provide these upon request.
Crypto-asset activities and initial capital
Class 1
Type of crypto-asset activity: CASPs that provide investment advice
Initial Capital: €50.000
Class 2
Type of crypto-asset activity: CASPs providing the service referred to in Class 1 and/or any of the following services:
- reception and transmission of client orders
- execution of orders on behalf of clients
- exchange between crypto-assets and fiat currency
- exchange between crypto-assets
- participation and/or provision of financial services related to the distribution, offering and/or sale of crypto-assets, including the initial offering
- placement of crypto-assets without firm commitment
- portfolio management
Initial Capital: €50.000
Class 3
Type of crypto-asset activity: CASPs that provide any of the services referred to in Class 1 or 2 and/or:
- administration, transfer of ownership, transfer of site, holding, and/or safekeeping, including custody, of crypto-assets or cryptographic keys or means enabling control over crypto-assets
- underwriting and/or placement of crypto-assets with firm commitment
- operation of a multilateral system, which brings together multiple third-party buying and selling interests in crypto-assets in a way that results in a transaction
Initial Capital: €150.000