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
|
🇳🇱 Netherlands
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 (Crypto-Asset Service Provider), granted by AFM; DNB co-assesses fitness/propriety and AML for licence holders |
| Regulator | BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator. | Autoriteit Financiële Markten (AFM) - lead conduct regulator and licensing authority; De Nederlandsche Bank (DNB) supports with prudential/AML input |
| Capital requirement | Germany capital requirement is included in the £349 pass. | Netherlands capital requirement is included in the £349 pass. |
| Timeline to authorisation | Germany timeline to authorisation is included in the £349 pass. | Netherlands timeline to authorisation is included in the £349 pass. |
| Local substance | Germany local substance is included in the £349 pass. | Netherlands local substance is included in the £349 pass. |
| Application cost | Germany application cost is included in the £349 pass. | Netherlands application cost is included in the £349 pass. |
| Ongoing cost | Germany ongoing cost is included in the £349 pass. | Netherlands ongoing cost is included in the £349 pass. |
| Passporting | Germany passporting is included in the £349 pass. | Netherlands passporting is included in the £349 pass. |
| MiCA CASPs approved | Germany mica casps approved is included in the £349 pass. | Netherlands mica casps approved is included in the £349 pass. |
| Key restrictions | Germany key restrictions is included in the £349 pass. | Netherlands 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. | Netherlands became one of the highest-volume MiCA jurisdictions through H1 2026 as the 1 July 2026 EU-wide transitional deadline approached; notable authorisations include Bitvavo, Amdax, MoonPay, Finst, Fiat Republic, and Banxa (Oct 2025); dedicated 'ARI10' authorisation added Feb 2026 per one tracker |
| Difficulty rating | Germany difficulty rating is included in the £349 pass. | Netherlands 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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