CASP Authorization Under MiCA : Financial Statements & Prudential Guarantees

The Crypto-Asset Service Provider (CASP) authorization under MiCA is based on strict regulatory criteria. Among them, financial statements play a crucial role in demonstrating a company’s financial solidity and its ability to meet prudential obligations.

In this article, we detail the financial requirements imposed by ESMA as part of the CASP authorization application process.

📌 Financial Statements: An Essential Proof of Stability

One of the key elements of the authorization file is the presentation of solid financial statements. The goal is to assess the viability and risk management of CASP businesses.

1️⃣ Established Companies:

✅ Financial statements from the last three years

✔️ Submission of annual accounts for the last three financial years.

✔️ Financial statements audited by an external auditor to ensure compliance and reliability. ✔️ Evaluation of financial management capacity and resilience to risks.

2️⃣ For Newly Created Companies:

Providing detailed financial projections over three years is mandatory, including:

✅ Financial forecasts & strategic plans

✔️ Development plan: Analysis of business objectives and economic strategies.

✔️ Stress scenarios: Simulations to anticipate market fluctuations and test financial resilience.

✔️ Growth forecasts: Estimates of client acquisition, transaction volume, and expected financial flows.

📢 Plan ahead now to ensure compliance!

Financial statements are not just an administrative formality. They provide tangible proof of a CASP’s ability to operate sustainably under MiCA.

💬 Have questions about preparing financial statements for your CASP authorization? Let’s discuss in the comments! 🚀

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