Article 65 Cross-border provision of crypto-asset services

Summary What does Article 65 of the MiCA regulation say?

This article establishes the cross-border "passporting" notification procedure for crypto-asset service providers (CASPs) that are already authorised in one Member State and wish to extend their services into other Member States.

Building directly on the authorisation framework set out in Article 63, it sets out the practical steps a CASP must follow to operate across borders: notifying the home competent authority with specific details about where and what services it intends to provide cross-border, after which the home authority communicates this to the relevant host Member States, ESMA, and EBA.

Once that communication loop is complete, the CASP is free to begin operating in the new Member State.

Important points:

Notify your home competent authority with the list of target Member States, the services to be provided cross-border, the intended start date, and any other activities you carry out outside the scope of this Regulation.
The home competent authority is required to forward that information to the host Member States' single points of contact, ESMA, and EBA within 10 working days.
A CASP may begin providing services in another Member State either upon receipt of confirmation that the communication has been made or, at the latest, 15 calendar days after submitting the notification.

Springlex's summary of the article, a reading aid, not a substitute for the legal text.

1. A crypto-asset service provider that intends to provide crypto-asset services in more than one Member State shall submit the following information to the competent authority of the home Member State:
  1. a list of the Member States in which the crypto-asset service provider intends to provide crypto-asset services;
  2. the crypto-asset services that the crypto-asset service provider intends to provide on a cross-border basis;
  3. the starting date of the intended provision of the crypto-asset services;
  4. a list of all other activities provided by the crypto-asset service provider not covered by this Regulation.
1. The competent authority of the home Member State shall, within 10 working days of receipt of the information referred to in paragraph 1, communicate that information to the single points of contact of the host Member States, to ESMA and to EBA.
1. The competent authority of the Member State that granted authorisation shall inform the crypto-asset service provider concerned of the communication referred to in paragraph 2 without delay.
1. The crypto-asset service provider may begin to provide crypto-asset services in a Member State other than its home Member State from the date of receipt of the communication referred to in paragraph 3 or at the latest from the 15th calendar day after having submitted the information referred to in paragraph 1.

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Springlex and this text is meant purely as a documentation tool and has no legal effect. No liability is assumed for its content. The authentic version of this act is the one published in the Official Journal of the European Union.