{"id":11487,"date":"2025-12-11T15:35:51","date_gmt":"2025-12-11T14:35:51","guid":{"rendered":"https:\/\/www.in-diem.com\/abogados\/uncategorized\/what-is-the-mica-passport-and-how-is-it-used-from-spain"},"modified":"2026-03-13T17:33:19","modified_gmt":"2026-03-13T16:33:19","slug":"what-is-the-mica-passport-and-how-is-it-used-from-spain","status":"publish","type":"post","link":"https:\/\/www.in-diem.com\/en\/abogados\/mica-licence\/what-is-the-mica-passport-and-how-is-it-used-from-spain","title":{"rendered":"What is the MiCA passport and how is it used from Spain?"},"content":{"rendered":"\n

MiCA\u2019s entry into force has completely transformed the crypto regulatory landscape in Europe. And with it comes one of the most powerful tools for any company in the sector: the MiCA passport<\/strong>. <\/p>\n\n

If you have a crypto startup in Spain and aspire to operate in other European Union countries, this mechanism can be your best ally. But it can also become a maze if you do not know where to start. <\/p>\n\n

In this article we explain what the MiCA passport is exactly, how it works, what you need to obtain it, and how to apply it from Spain. All in clear language, with practical examples and without unnecessary technical jargon. <\/p>\n\n

What exactly is the MiCA passport?<\/strong><\/strong><\/h2>\n\n

The MiCA passport is a mutual recognition mechanism<\/strong> among European Union Member States. It allows a company authorised as a crypto-asset service provider (CASP) in one country to provide those same services across the rest of the EU without having to apply for a new licence in each jurisdiction. <\/p>\n\n

In other words: if your company obtains authorisation in Spain, you can expand to France, Germany, Italy, or any other Member State by notifying your intention. You do not need to repeat the entire regulatory process from scratch. <\/p>\n\n

This system mirrors the success of the European passport in traditional financial services. Now, crypto companies can also benefit from that regulatory mobility. <\/p>\n\n

The MiCA regulatory framework was approved by the European Parliament<\/a> in 2023 and began to be applied progressively from 2024. This regulation establishes a common framework for the entire European Union. <\/p>\n\n

The advantage is enormous. Instead of facing 27 different regulatory frameworks, you comply with just one and gain access to the European single market. <\/p>\n\n

\"MiCA
MiCA Passport – IN DIEM Abogados<\/figcaption><\/figure>\n\n

Why does it matter to a Spanish crypto company?<\/strong><\/strong><\/h2>\n\n

Spain is consolidating as an important crypto hub<\/em> in southern Europe. But the real business potential lies in being able to operate beyond our borders. <\/p>\n\n

This is where the MiCA passport comes in. It allows you to scale your operation without multiplying regulatory costs or facing legal barriers in each country. <\/p>\n\n

Imagine your exchange platform wants to attract users in Portugal, the Netherlands, and Poland. Without the passport, you would have to apply for local authorisations in each of those countries. With the passport, you notify your intention and that is it. <\/p>\n\n

In addition, the MiCA passport strengthens your project\u2019s credibility<\/strong>. Being authorised under this European framework sends a clear message: your company meets demanding standards for customer protection, anti-money laundering, and corporate governance. <\/p>\n\n

In a sector where trust remains a challenge, having a MiCA authorisation can make the difference between closing an investment round or losing an opportunity.<\/p>\n\n

The European Commission<\/a> has highlighted that this regulatory framework seeks to foster innovation while protecting consumers and financial stability at the same time.<\/p>\n\n

How the passport works step by step<\/strong><\/strong><\/h2>\n\n

The passporting process is not automatic, but it is not as complicated as it seems. It is structured in several well-defined phases. <\/p>\n\n

Phase 1: Obtain authorisation as a CASP<\/strong><\/strong><\/h3>\n\n

First, you need to be authorised as a crypto-asset service provider<\/strong> in your home country. In Spain, that authorisation is granted by the Bank of Spain or the National Securities Market Commission (CNMV), depending on the type of service. <\/p>\n\n

Without this initial authorisation, there is no passporting possible. It is the mandatory starting point. <\/p>\n\n

Phase 2: Notify your intention to expand<\/strong><\/h3>\n\n

Once authorised, you must notify<\/strong> your national competent authority (in Spain, the body that granted your licence) of your intention to provide services in another Member State.<\/p>\n\n

This notification includes information about the services you intend to offer and the country or countries where you want to operate.<\/p>\n\n

Phase 3: Transmission to the authority in the destination country<\/strong><\/strong><\/h3>\n\n

Your national authority transmits that notification to the competent authority in the destination country. This process must be completed within a maximum timeframe set by MiCA. <\/p>\n\n

The authority in the destination country cannot reject your request if you meet the requirements. It may only request additional information or clarifications. <\/p>\n\n

Phase 4: Start of operations<\/strong><\/strong><\/strong><\/h3>\n\n

Once the notification has been completed, you may begin operating in the destination country. You do not need to wait for any additional formal approval. <\/p>\n\n

That said, you remain under the supervision of your national authority<\/strong> as regards regulatory compliance. The destination country may supervise specific aspects related to the protection of local clients. <\/p>\n\n

Key requirements to obtain the passport<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n

The MiCA passport is not a document you apply for separately. It is a direct consequence of being authorised as a CASP. However, to get there you must meet a series of fundamental requirements. <\/p>\n\n

Registration and initial authorisation<\/strong><\/strong><\/h3>\n\n

First, you must be registered as a CASP in Spain. This involves submitting a complete application to the Bank of Spain<\/a> or the CNMV<\/a> with detailed information about your company, services, governance structure, and internal controls. The initial authorisation is the most demanding step. This is where most projects encounter obstacles if they have not prepared the documentation properly. <\/p>\n\n

Capital and own-funds requirements<\/strong><\/strong><\/h3>\n\n

MiCA establishes minimum capital requirements for CASPs. These vary depending on the type of service you provide. <\/p>\n\n

For example, if you operate an exchange, the capital requirements are higher than if you only offer custody services. You must demonstrate that you have sufficient resources to cover operational risks and ensure business continuity. <\/p>\n\n

The European Banking Authority (EBA)<\/a> has developed specific technical standards on these capital and governance requirements.<\/p>\n\n

Governance and compliance policies<\/strong><\/strong><\/h3>\n\n

You need to have robust policies in place for anti-money laundering (AML), know your customer (KYC), data protection, and cybersecurity.<\/p>\n\n

You must also have an appropriate governance structure: a competent board of directors, segregation of duties, and management of conflicts of interest.<\/p>\n\n

In practice, this means clearly documenting internal processes and demonstrating that your team has sufficient experience.<\/p>\n\n

Audits and reporting<\/strong><\/strong><\/strong><\/h3>\n\n

CASP companies must undergo periodic audits and submit regular reports to supervisory authorities.<\/p>\n\n

These controls ensure that you continue to meet MiCA standards over time.<\/p>\n\n

If your crypto project needs regulatory guidance, at IN DIEM<\/strong> we can support you step by step in preparing all of this documentation.<\/p>\n\n

Which authority manages it and how to apply<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n

In Spain, the competent authority depends on the type of service you offer.<\/p>\n\n

Bank of Spain<\/strong><\/strong><\/h3>\n\n

The Bank of Spain<\/a> supervises services related to e-money tokens<\/strong> and exchange services between crypto-assets and fiat currency.<\/p>\n\n

If your company operates an exchange that allows buying and selling cryptocurrencies with euros, your supervisor will likely be the Bank of Spain.<\/p>\n\n

The Bank of Spain has published specific guidance on the authorisation process and the requirements that crypto service providers must meet.<\/p>\n\n

CNMV<\/strong><\/strong><\/h3>\n\n

The National Securities Market Commission<\/a> supervises services related to asset-referenced tokens<\/strong> and crypto-asset investment services.<\/p>\n\n

If your platform offers investment products or crypto portfolio management, the CNMV will be your reference authority.<\/p>\n\n

Application process<\/strong><\/strong><\/strong><\/strong><\/h2>\n\n

The application for authorisation as a CASP is submitted to the competent authority with all required documentation. The process includes: <\/p>\n\n