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 🇨🇾 Cyprus partly open Verified 2026-07-03
|
🇩🇪 Germany
partly open
Verified 2026-07-03
|
|---|---|---|
| Licence type | MiCA CASP Authorisation granted by CySEC; existing Cyprus Investment Firms (CIFs) can extend their licence to cover crypto-asset services under a simplified process | 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 | Cyprus Securities and Exchange Commission (CySEC) - sole National Competent Authority for MiCA in Cyprus | BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator. |
| Capital requirement | Cyprus capital requirement is locked. Unlock with the £349 pass. | Germany capital requirement is locked. Unlock with the £349 pass. |
| Timeline to authorisation | Cyprus timeline to authorisation is locked. Unlock with the £349 pass. | Germany timeline to authorisation is locked. Unlock with the £349 pass. |
| Local substance | Cyprus local substance is locked. Unlock with the £349 pass. | Germany local substance is locked. Unlock with the £349 pass. |
| Application cost | Cyprus application cost is locked. Unlock with the £349 pass. | Germany application cost is locked. Unlock with the £349 pass. |
| Ongoing cost | Cyprus ongoing cost is locked. Unlock with the £349 pass. | Germany ongoing cost is locked. Unlock with the £349 pass. |
| Passporting | Cyprus passporting is locked. Unlock with the £349 pass. | Germany passporting is locked. Unlock with the £349 pass. |
| MiCA CASPs approved | Cyprus mica casps approved is locked. Unlock with the £349 pass. | Germany mica casps approved is locked. Unlock with the £349 pass. |
| Key restrictions | Cyprus key restrictions is locked. Unlock with the £349 pass. | Germany key restrictions is locked. Unlock with the £349 pass. |
| Recent changes | CySEC set a hard 27 February 2026 deadline for existing national-regime CASPs to submit MiCA applications; preliminary assessment phase opened 13 Nov 2024, formal applications from 1 Jan 2025; national transitional regime and full MiCA regime now running in parallel toward the 1 July 2026 EU-wide cutover | 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 | Cyprus 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.