Prudential Requirements for CASP : What You Need to Know
- BECTRA
- Feb 13
- 2 min read
Prudential Requirements for CASP : What You Need to Know
The Autorité des Marchés Financiers (AMF) imposes prudential requirements on Crypto-Asset Service Providers (CASP) to ensure their financial stability and investor protection. The amount of required guarantees depends on the type of services provided.
💰 Minimum Prudential Guarantee Amount
You must always have capital at least equal to the highest of the following two amounts :
✅ A permanent minimum capital (€50,000, €125,000, or €150,000 depending on the type of CASP).
✅ One-quarter of the fixed overhead costs of the previous year, recalculated annually.
The Annex 4 of the regulation specifies the required capital based on your activity.
📌 Types of CASP and Financial Requirements
1️⃣ Crypto-Asset Portfolio Managers
➡️ Discretionary and individualized management of portfolios including at least one crypto-asset.
🔹 Requirements :
✔️ €50,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
2️⃣ Crypto-Asset Exchangers (Without Advanced Tools)
➡️ Buying, selling, and exchanging crypto for crypto without an order book or advanced tools (stop-loss, APIs, interactive charts).
🔹 Requirements :
✔️ €125,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
3️⃣ Trading Platforms (With Advanced Tools)
➡️ Crypto exchange with order book and advanced trading tools.
🔹 Requirements :
✔️ €150,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
4️⃣ Crypto-Asset Custody and Administration
➡️ Holding and managing crypto-assets and access means (private keys).
🔹 Requirements :
✔️ €125,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
5️⃣ Crypto-Asset Placement
➡️ Marketing of crypto-assets to buyers on behalf of an issuer.
🔹 Requirements :
✔️ €50,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
6️⃣ Crypto-Asset Transfers
➡️ Transferring crypto-assets from one address or blockchain to another on behalf of clients.
🔹 Requirements :
✔️ €50,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
7️⃣ Crypto-Asset Advisory Services
➡️ Personalized recommendations on crypto transactions and related services.
🔹 Requirements :
✔️ €50,000 minimum capital OR
✔️ 1/4 of the fixed overhead costs of the previous year.
📊 How to Calculate Fixed Overhead Costs ?
If you are inactive in the first year after authorization, use the financial projections submitted in your application.
Fixed overhead costs include recurring expenses, excluding :
❌ Variable employee bonuses and remuneration.
❌ Profit-sharing for employees, executives, and partners.
❌ Dividends and exceptional charges.
💎 Accepted Forms of Guarantees
The required amount can take the form of :
✔️ Own funds
✔️ Insurance policy covering the EU (must be published on your website)
✔️ A mix of own funds and insurance
Complying with these requirements is essential to secure your business and ensure regulatory compliance with the AMF.
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