The Cyprus Securities and Exchange Commission (CySEC) has issued a reminder to Crypto-Asset Service Providers (CASPs) operating in the Republic that the deadline for applying for authorisation under the Markets in Crypto-Assets Regulation (MiCA) is 27 February 2026.
Following CySEC’s announcement dated 17 October 2024 and Circular No. 674, it is clarified that CASPs currently providing services under the national framework may continue their activities until their application is approved or rejected or, in any event, until the end of the transitional period on 1 July 2026, whichever occurs first.
CASPs that do not apply for authorisation by the above deadline are required to submit a wind-down plan, as the provision of crypto-asset services will no longer be permitted after the end of the transitional period. Any continuation of activities beyond 1 July 2026 is conditional upon obtaining the relevant MiCA authorisation.
At the same time, it is recalled that the cross-border provision of services to another EU Member State is permitted only where this is allowed under the national legislation of the host Member State and to the extent that the grandfathering regime has been adopted, in line with relevant ESMA guidance.
CASPs that remain registered in the relevant Register continue to be subject to all obligations arising both from the national rules and from Regulation (EU) 2023/1113, as previously announced by CySEC.
CySEC emphasises that a smooth transition to the MiCA framework is a key prerequisite for enhancing confidence, transparency and security in the crypto-asset market.
