Cryptoasset & Digital Asset Licence Advisory — UK, EU & Global
From FCA cryptoasset registration to EU MiCA authorisation, UAE VARA licensing and Singapore MAS approval, we help crypto and digital asset businesses secure regulatory authorisation across every key market.
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What is a Cryptoasset & Digital Asset Licence?
The regulation of cryptoassets and digital assets is evolving rapidly across global markets. What was once a largely unregulated space is now subject to comprehensive licensing requirements in most major jurisdictions. For firms offering crypto exchange services, custody, transfer, advisory, or issuance activities, obtaining the appropriate regulatory authorisation is now essential.
In the United Kingdom, the FCA operates a cryptoasset registration regime under the Money Laundering Regulations 2017. Firms offering cryptoasset exchange or custodian wallet services must register with the FCA before they can lawfully operate. The FCA has applied rigorous standards to this registration process, resulting in a high refusal rate for applications that do not meet its expectations.
Across the European Union, the Markets in Crypto-Assets Regulation (MiCA) introduces a comprehensive licensing framework for crypto-asset service providers (CASPs). MiCA creates a harmonised EU-wide regime covering exchanges, custody providers, advisory services, portfolio management, and token issuance. Firms authorised under MiCA will benefit from EU-wide passporting.
In the UAE, the Virtual Assets Regulatory Authority (VARA) in Dubai has established one of the world's most progressive regulatory frameworks for virtual assets. Singapore's Monetary Authority of Singapore (MAS) regulates digital payment token services under the Payment Services Act 2019. Hong Kong's Securities and Futures Commission (SFC) has introduced a Virtual Asset Service Provider (VASP) licensing regime.
Navigating these different regimes requires specialist regulatory expertise. Each jurisdiction has distinct requirements, timelines, and regulatory expectations. We provide end-to-end support for crypto and digital asset businesses seeking authorisation in any of these markets.
Where Can You Obtain a Cryptoasset & Digital Asset Licence?
We support licensing in the following jurisdictions.
FCA
United Kingdom
Capital: No capital floor
Timeline: 3–12 months
AML registration, rigorous assessment
National Competent Authorities
European Union (MiCA)
Capital: €50k–€150k
Timeline: 6–12 months
EU-wide passporting across all EEA member states
VARA
UAE (VARA)
Capital: AED 300k+
Timeline: 3–9 months
Dubai crypto hub, progressive framework
MAS
Singapore
Capital: SGD 250k
Timeline: 6–12 months
Asia-Pacific gateway, respected regulator
SFC
Hong Kong
Capital: HKD 5M
Timeline: 6–12 months
VASP licensing, gateway to China
FINMA
Switzerland
Capital: CHF 300k+
Timeline: 6–12 months
Crypto Valley, progressive regulation
CBB
Bahrain
Capital: BHD 25k–200k
Timeline: 3–9 months
Progressive MENA regime, sandbox available
CSA + FINTRAC
Canada
Capital: Varies
Timeline: 6–12 months
Securities-based regulation, MSB registration
ASIC + AUSTRAC
Australia
Capital: Varies
Timeline: 3–9 months
Digital currency exchange registration
FSA / JFSA
Japan
Capital: ¥10M+
Timeline: 6–12 months
Mature crypto regulation, large market
FSC / FIU
South Korea
Capital: Varies
Timeline: 6–12 months
VASP reporting, active crypto market
BMA
Bermuda
Capital: BMD 100k+
Timeline: 3–6 months
DABA Act, offshore crypto hub
United Kingdom — Cryptoasset & Digital Asset Licence
Overview
The UK FCA operates a cryptoasset registration regime focused on anti-money laundering compliance. This is not a full activity-based licence but a registration confirming the firm meets AML/CFT requirements.
Key Requirements
No minimum capital requirement, but firms must demonstrate robust AML/KYC frameworks, fit and proper senior management, adequate financial resources, and a viable business model.
Application Process
Applications can take 3 to 12 months depending on complexity and the quality of the submission. The FCA has rejected a high proportion of crypto registration applications.
Why United Kingdom?
FCA registration provides credibility in one of the world's most important financial markets and is increasingly required by banking partners.
Full United Kingdom guide →European Union (MiCA) — Cryptoasset & Digital Asset Licence
Overview
MiCA creates a comprehensive EU-wide licensing regime for crypto-asset service providers. Firms can apply for CASP authorisation through any EU member state's national competent authority and passport across the entire EEA.
Key Requirements
Capital requirements range from €50,000 to €150,000 depending on the CASP services offered. Comprehensive governance, compliance, AML, custody, and disclosure requirements apply.
Application Process
6 to 12 months depending on the member state. Transitional provisions allow existing firms additional time to comply.
Why European Union (MiCA)?
MiCA provides a single licence for the entire EU/EEA market — 30 countries from one authorisation. This is the most commercially significant development in global crypto regulation.
Full European Union (MiCA) guide →UAE (VARA) — Cryptoasset & Digital Asset Licence
Overview
Dubai's Virtual Assets Regulatory Authority (VARA) operates one of the world's most comprehensive virtual asset regulatory frameworks covering exchange, broker-dealer, custody, lending, management, and advisory activities.
Key Requirements
Capital requirements start at AED 300,000 and increase based on the activities licensed. Local substance, governance, compliance, and AML frameworks are required.
Application Process
3 to 9 months. VARA operates a multi-stage licensing process including an MVP licence followed by a full licence.
Why UAE (VARA)?
Dubai has positioned itself as the global capital of crypto and Web3. VARA licensing provides access to the MENA market and carries significant international credibility.
Full UAE (VARA) guide →Singapore — Cryptoasset & Digital Asset Licence
Overview
Singapore's MAS regulates digital payment token services under the Payment Services Act. A Major Payment Institution licence is required for firms providing DPT services above certain thresholds.
Key Requirements
SGD 250,000 minimum capital. Comprehensive AML/CFT frameworks, technology risk management, and governance arrangements required. Local directors mandatory.
Application Process
6 to 12 months. MAS is thorough in its assessment.
Why Singapore?
Singapore is the premier financial centre in Asia-Pacific with a globally respected regulatory framework.
Full Singapore guide →Hong Kong — Cryptoasset & Digital Asset Licence
Overview
Hong Kong's Securities and Futures Commission has introduced a VASP licensing regime for virtual asset trading platforms.
Key Requirements
HKD 5 million minimum paid-up share capital. Extensive governance, custody, AML, cybersecurity, and client asset protection requirements.
Application Process
6 to 12 months. The SFC conducts detailed assessments including on-site inspections.
Why Hong Kong?
Hong Kong provides access to Chinese and broader Asian markets. The SFC framework is rigorous but internationally respected.
Full Hong Kong guide →Switzerland — Cryptoasset & Digital Asset Licence
Overview
FINMA regulates crypto businesses under the DLT Act and existing financial market law. Switzerland's 'Crypto Valley' around Zug is a major global hub for blockchain and crypto firms.
Key Requirements
Capital requirements vary depending on the activity. Comprehensive governance, AML, and risk management frameworks required.
Application Process
6 to 12 months depending on the licence type and activity scope.
Why Switzerland?
Switzerland offers a progressive regulatory approach, strong rule of law, political stability, and a world-leading crypto ecosystem in the Zug-Zurich corridor.
Full Switzerland guide →Bahrain — Cryptoasset & Digital Asset Licence
Overview
The Central Bank of Bahrain (CBB) regulates crypto-asset services under its crypto-asset module. Bahrain was one of the first MENA jurisdictions to introduce dedicated crypto regulation.
Key Requirements
Capital from BHD 25,000 to BHD 200,000 depending on activities. Local incorporation, governance, and AML frameworks required.
Application Process
3 to 9 months. The CBB offers a regulatory sandbox for firms seeking to test products before full licensing.
Why Bahrain?
Bahrain is a first-mover in MENA crypto regulation with a pragmatic and accessible regulatory approach.
Full Bahrain guide →Canada — Cryptoasset & Digital Asset Licence
Overview
Canada regulates crypto trading platforms as securities dealers through the Canadian Securities Administrators (CSA), with FINTRAC registration for AML purposes.
Key Requirements
Compliance with securities regulation requirements. FINTRAC MSB registration. Comprehensive AML/CFT frameworks. Custody and insurance requirements.
Application Process
6 to 12 months for securities registration. FINTRAC registration can be completed in 6 to 8 weeks.
Why Canada?
Canada offers access to a developed and growing crypto market with regulatory clarity and proximity to the US market.
Full Canada guide →Australia — Cryptoasset & Digital Asset Licence
Overview
Australia requires digital currency exchange providers to register with AUSTRAC. ASIC is developing a broader regulatory framework for crypto-assets.
Key Requirements
AUSTRAC registration for AML purposes. Comprehensive AML/CTF programme required. ASIC compliance for entities dealing in financial products.
Application Process
3 to 9 months depending on the regulatory pathway and business complexity.
Why Australia?
Australia offers a well-regulated market, strong rule of law, and access to the Asia-Pacific region.
Full Australia guide →Japan — Cryptoasset & Digital Asset Licence
Overview
Japan's Financial Services Agency (JFSA) regulates crypto-asset exchange service providers under the Payment Services Act and Financial Instruments and Exchange Act.
Key Requirements
Minimum capital of ¥10 million. Comprehensive governance, AML, cybersecurity, and customer asset segregation requirements.
Application Process
6 to 12 months. The JFSA conducts thorough assessments.
Why Japan?
Japan was one of the first major economies to regulate crypto-assets and offers access to one of the world's largest and most active crypto markets.
Full Japan guide →South Korea — Cryptoasset & Digital Asset Licence
Overview
South Korea regulates virtual asset service providers (VASPs) through the Financial Intelligence Unit under the Act on Reporting and Using Specified Financial Transaction Information.
Key Requirements
VASP registration with the FIU. Real-name bank account partnership required. Comprehensive AML/CFT compliance. ISMS certification.
Application Process
6 to 12 months including obtaining required bank partnerships and security certifications.
Why South Korea?
South Korea has one of the world's most active crypto trading markets with significant retail participation and a tech-savvy population.
Full South Korea guide →Bermuda — Cryptoasset & Digital Asset Licence
Overview
Bermuda's Monetary Authority (BMA) regulates digital asset businesses under the Digital Asset Business Act (DABA). Bermuda was an early mover in creating dedicated crypto legislation.
Key Requirements
Minimum capital from BMD 100,000. Comprehensive governance, AML, cybersecurity, and client asset protection requirements.
Application Process
3 to 6 months. The BMA is known for efficient processing and constructive engagement.
Why Bermuda?
Bermuda offers a well-crafted digital asset regulatory framework, a stable political environment, and proximity to both US and European markets.
Full Bermuda guide →Supporting Services for Cryptoasset & Digital Asset Firms
"Navigating crypto regulation across multiple jurisdictions seemed impossible until we engaged Regulatory Counsel. They made sense of a complex landscape and got us authorised in two markets simultaneously."
CEO, Digital Asset Exchange
"Their deep understanding of MiCA was exactly what we needed. We now have a clear path to EU-wide operations."
Founder, Crypto Custody Provider
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Frequently Asked Questions
Yes, in virtually all major markets you now need regulatory authorisation to operate a crypto exchange. In the UK, you need FCA cryptoasset registration. In the EU, you need MiCA CASP authorisation. In the UAE, you need a VARA licence. In Singapore, you need an MAS payment institution licence. Operating without authorisation is a criminal offence in most jurisdictions.
MiCA (Markets in Crypto-Assets Regulation) is the EU's comprehensive regulatory framework for crypto-assets. It creates a unified licensing regime for crypto-asset service providers across all EU member states. If you provide any crypto-asset services in the EU, you will need CASP authorisation under MiCA. The key benefit is EU-wide passporting from a single licence.
FCA cryptoasset registration typically takes 3 to 12 months. The FCA has been very rigorous in its assessment, with a high rejection rate. Well-prepared applications with robust AML frameworks have the best chance of timely approval.
Under MiCA, yes. A CASP authorisation obtained in any EU member state can be passported across all EEA member states.
Capital requirements vary significantly. UK FCA registration has no capital floor. EU MiCA requires €50,000 to €150,000. UAE VARA requires AED 300,000 or more. Singapore MAS requires SGD 250,000. Hong Kong SFC requires HKD 5 million.
Most jurisdictions require some form of local substance. This typically includes local directors, a registered office, and in some cases operational staff. The level of substance required varies.