Pin and benchmark
Pin the jurisdiction you are leaning towards, then line up to 5 rivals against it. Every unlocked figure shows where a peer beats it or loses to it on capital, timeline, cost and difficulty, so one screen tells you whether your first choice actually holds up.
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| Dimension |
Pinned 🇦🇹 Austria partly open Verified 2026-07-03
|
🇩🇪 Germany
partly open
Verified 2026-07-03
|
|---|---|---|
| Licence type | MiCA CASP Authorisation granted by the Austrian Financial Market Authority (FMA) | MiCA CASP authorisation granted by BaFin under national law FinmadiG/KMAG; replaces the legacy KWG crypto-custody business licence, with a simplified transition for existing KWG-licensed firms. |
| Regulator | Finanzmarktaufsicht (FMA) Österreich | BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator. |
| Capital requirement | Austria capital requirement is locked. Unlock with the £349 pass. | Germany capital requirement is locked. Unlock with the £349 pass. |
| Timeline to authorisation | Austria timeline to authorisation is locked. Unlock with the £349 pass. | Germany timeline to authorisation is locked. Unlock with the £349 pass. |
| Local substance | Austria local substance is locked. Unlock with the £349 pass. | Germany local substance is locked. Unlock with the £349 pass. |
| Application cost | Austria application cost is locked. Unlock with the £349 pass. | Germany application cost is locked. Unlock with the £349 pass. |
| Ongoing cost | Austria ongoing cost is locked. Unlock with the £349 pass. | Germany ongoing cost is locked. Unlock with the £349 pass. |
| Passporting | Austria passporting is locked. Unlock with the £349 pass. | Germany passporting is locked. Unlock with the £349 pass. |
| MiCA CASPs approved | Austria mica casps approved is locked. Unlock with the £349 pass. | Germany mica casps approved is locked. Unlock with the £349 pass. |
| Key restrictions | Austria key restrictions is locked. Unlock with the £349 pass. | Germany key restrictions is locked. Unlock with the £349 pass. |
| Recent changes | Austria set 30 June 2026 as the end of its transitional regime (shorter runway than the EU default 1 July 2026 deadline), creating pressure for existing FM-GwG registered VASPs to secure full CASP authorisation; Bybit reported as licensed in Austria per exchange-tracking source | FinmadiG + KMAG in force 27 Dec 2024; Germany used a 12-month grandfathering (apply before 8 Oct 2025; effective end-2025). By mid-2026 the EU's #1 hub - ~57 CASP authorisations (~23% of the EU's ~244), incl. Trade Republic, N26, Commerzbank, Bitpanda. |
| Difficulty rating | Austria difficulty rating is locked. Unlock with the £349 pass. | Germany difficulty rating is locked. Unlock with 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.