Pin and benchmark
Pin one jurisdiction. Line up to five rivals against it. Deltas show where each peer is better or worse.
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| Dimension |
Pinned 🇩🇰 Denmark partly open Verified 2026-08-15
|
🇪🇪 Estonia
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | MiCA CASP authorisation under Regulation (EU) 2023/1114, with Finanstilsynet designated as competent authority under Danish implementing provisions. | MiCA CASP authorisation; implemented via the Crypto-Assets Market Act (Kruptovarade turu seadus, KrüTS), in force 1 July 2024. |
| Regulator | Finanstilsynet (Danish Financial Supervisory Authority) | Finantsinspektsioon (Estonian Financial Supervision and Resolution Authority) |
| Capital requirement | Denmark capital requirement is included in the £349 pass. | Estonia capital requirement is included in the £349 pass. |
| Timeline to authorisation | Denmark timeline to authorisation is included in the £349 pass. | Estonia timeline to authorisation is included in the £349 pass. |
| Local substance | Denmark local substance is included in the £349 pass. | Estonia local substance is included in the £349 pass. |
| Application cost | Denmark application cost is included in the £349 pass. | Estonia application cost is included in the £349 pass. |
| Ongoing cost | Denmark ongoing cost is included in the £349 pass. | Estonia ongoing cost is included in the £349 pass. |
| Passporting | Denmark passporting is included in the £349 pass. | Estonia passporting is included in the £349 pass. |
| MiCA CASPs approved | Denmark mica casps approved is included in the £349 pass. | Estonia mica casps approved is included in the £349 pass. |
| Key restrictions | Denmark key restrictions is included in the £349 pass. | Estonia key restrictions is included in the £349 pass. |
| Recent changes | Denmark's MiCA transitional arrangement for legacy crypto-asset service providers who applied before 30 December 2024 runs for up to 18 months from that date, lapsing around 1 July 2026 in line with the EU-wide backstop. Finanstilsynet has published an application form, via virk.dk, covering both full CASP authorisation and Article 60 notifications, applicable since the crypto-asset-service rules took effect on 30 December 2024. | Estonia's VASP population collapsed from 641 valid licences (mid-2021 peak) to 36 remaining by early 2026; as of recent reporting only one entity (Lightspark Payments Europe AS) had received full MiCA CASP authorisation. From 18 March 2026, CASP applications must go through FI's new application portal. |
| Difficulty rating | Denmark difficulty rating is included in the £349 pass. | Estonia difficulty rating is included in the £349 pass. |
Informational only, not legal advice. A delta compares the sortable figure only (capital, timeline, cost, difficulty, passporting, approvals); it is not a judgement on overall suitability. Verify with qualified counsel before acting.
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