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 🇩🇪 Germany partly open Verified 2026-08-15
|
🇮🇪 Ireland
partly open
Verified 2026-08-15
|
|---|---|---|
| Licence type | 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. | MiCA CASP authorisation granted by the Central Bank of Ireland; replaces the legacy VASP registration (CJA 2010, AML). No simplified VASP->CASP conversion - all applicants face the full process. |
| Regulator | BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator. | Central Bank of Ireland (CBI) - sole competent authority; runs an Innovation Hub. Known as a demanding, gatekeeper-style regulator. |
| Capital requirement | Germany capital requirement is included in the £349 pass. | Ireland capital requirement is included in the £349 pass. |
| Timeline to authorisation | Germany timeline to authorisation is included in the £349 pass. | Ireland timeline to authorisation is included in the £349 pass. |
| Local substance | Germany local substance is included in the £349 pass. | Ireland local substance is included in the £349 pass. |
| Application cost | Germany application cost is included in the £349 pass. | Ireland application cost is included in the £349 pass. |
| Ongoing cost | Germany ongoing cost is included in the £349 pass. | Ireland ongoing cost is included in the £349 pass. |
| Passporting | Germany passporting is included in the £349 pass. | Ireland passporting is included in the £349 pass. |
| MiCA CASPs approved | Germany mica casps approved is included in the £349 pass. | Ireland mica casps approved is included in the £349 pass. |
| Key restrictions | Germany key restrictions is included in the £349 pass. | Ireland key restrictions is included in the £349 pass. |
| Recent changes | 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. BaFin's KMAnzV notification ordinance under KMAG (issued 20 May 2026, Federal Gazette 26 May 2026) standardises CASP notification forms and procedures. ESMA's interim register recorded 61 German CASP entries at its 24 July 2026 refresh, including cooperative banks Raiffeisenbank Auerbach-Freihung eG (19 June 2026) and Volksbank Schwarzwald-Donau-Neckar eG (2 July 2026), both for order execution only. | Transitional period ended 30 Dec 2025 (12 months; simplified route declined). ~10 CASPs authorised by late 2025 (Kraken Jun 2025, Coinbase, StoneX 10th). Revised Consumer Protection Code from 24 Mar 2026. |
| Difficulty rating | Germany difficulty rating is included in the £349 pass. | Ireland 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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