Crypto licensing costs, jurisdiction by jurisdiction
Three-year totals from sourced component models: cash spend and capital held, each pair modelled for one stated representative scenario.
These figures are planning estimates for a stated representative scenario, not quotes and not legal or financial advice. Regulator fees and capital minimums are sourced from official schedules; professional and substance costs are market estimates with ranges. Your numbers will differ. Verify against the cited sources and take advice before committing.
| Jurisdiction | 3-year cash | Capital held | Confidence | Verified |
|---|---|---|---|---|
| 🇫🇷 France Single-entity MiCA Class 2 CASP (PSCA) authorised by the AMF (custody plus exchange, no trading platform), no passporting add-ons. Professional and substance costs not modelled. |
Locked | Locked | Medium | 2026-07-06 |
| 🇭🇰 Hong Kong analogue Centralised virtual asset trading platform under the SFC dual-licence route: SFO Types 1 and 7 plus the AMLO virtual asset service, three regulated activities in total. Professional and substance costs not modelled. |
roughly EUR 0 to EUR 25k | roughly EUR 550k to EUR 600k | High | 2026-07-06 |
| 🇮🇪 Ireland Single-entity MiCA Class 2 CASP application to the Central Bank of Ireland (custody plus exchange, no trading platform), no passporting add-ons. Professional and substance costs not modelled. |
- | roughly EUR 100k to EUR 150k | Medium | 2026-07-06 |
| 🇱🇹 Lithuania Single-entity MiCA Class 2 CASP application to the Bank of Lithuania (custody plus exchange, no trading platform), no passporting add-ons. Professional and substance costs not modelled. |
Locked | Locked | Medium | 2026-07-06 |
| 🇲🇹 Malta Single-entity MiCA Class 2 CASP application to the MFSA (custody plus exchange as two authorised services, no trading platform), new applicant rather than a transitioning VFA holder. Professional and substance costs not modelled. |
roughly EUR 100k to EUR 200k | roughly EUR 100k to EUR 150k | Medium | 2026-07-06 |
| 🇦🇪 United Arab Emirates (Dubai - VARA) analogue Single VA Activity licence for Exchange Services under Dubai VARA (mainland and free zones outside DIFC), client assets held with a VARA-licensed custody provider at the low capital bound. Professional and substance costs not modelled. |
roughly EUR 150k to EUR 200k | roughly EUR 150k to EUR 400k | High | 2026-07-06 |
| 🇬🇧 United Kingdom Cryptoasset business registration with the FCA under the Money Laundering Regulations (AML registration, not FSMA authorisation; the new FSMA cryptoasset regime starts 25 October 2027). No minimum capital requirement attaches to MLR registration, so no capital line is modelled. |
roughly EUR 0 to EUR 50k | - | Medium | 2026-07-06 |
| Lower confidence: wider estimates, never interleaved with verified figures | ||||
| 🇩🇪 Germany Single-entity MiCA Class 2 CASP application to BaFin (custody plus exchange, no trading platform), no passporting add-ons. Professional and substance costs not modelled. |
Locked | Locked | Low | 2026-07-06 |
| 🇳🇱 Netherlands Single-entity MiCA Class 2 CASP application to the AFM (custody plus exchange, no trading platform), no passporting add-ons. Professional and substance costs not modelled. |
Locked | Locked | Low | 2026-07-06 |
| 🇸🇬 Singapore analogue Major Payment Institution licence under the Payment Services Act 2019 providing a digital payment token service. Professional and substance costs not modelled. |
Locked | Locked | Low | 2026-07-06 |