licencemap
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🇩🇪 Germany

BaFin, MiCA CASP

Crypto (CASP) E-Money (EMI)
Last verified 2026-07-03 Next review 2026-07-17

Data verified: oldest cell 2 days ago (verified 2026-07-01). Individual cells show their own verification date below.

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.

Verified 2026-07-01 Source: BaFin - CASPs under MiCAR: https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Fachartikel/2025/fa_250122_MiCAR_Vereinfachungen_Herausforderungen_en.html

Regulator

BaFin (Bundesanstalt fur Finanzdienstleistungsaufsicht) with Deutsche Bundesbank involvement; applications go to both. Widely regarded as the EU's most demanding CASP regulator.

Verified 2026-07-01 Source: BaFin - MiCAR: https://www.bafin.de/EN/Aufsicht/MiCAR/MiCAR_node_en.html

Capital requirement 🔒

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Timeline to authorisation 🔒

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Local substance 🔒

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Application cost 🔒

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Ongoing cost 🔒

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Passporting 🔒

Unlock passporting with the Founder Pass Source: eur-lex.europa.eu

MiCA CASPs approved 🔒

Unlock mica casps approved with the Founder Pass Source: helmsadvisory.com

Key restrictions 🔒

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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.

Verified 2026-07-01 Source: ESMA grandfathering list (Art. 143(3)): https://www.esma.europa.eu/sites/default/files/2024-12/List_of_MiCA_grandfathering_periods_art._143_3.pdf

Difficulty rating 🔒

Unlock difficulty rating with the Founder Pass Source: bafin.de

The decision numbers for Germany are one step away

Capital, timeline, costs, substance, passporting, restrictions and difficulty, with sources and verification dates. Deciding now? The one-off Founder Pass (£349) unlocks everything for 30 days. The free showcase jurisdiction shows you the exact format and quality first.

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Track Germany

Get an email when this regime changes, fee schedules, capital rules, transition deadlines.

Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with Germany's regulator and qualified local counsel before acting.