Glossary

Short definitions for register browsing. Not legal advice — consult the Regulation and your counsel.

• CASP

  Crypto-asset service provider — a legal person or other undertaking whose occupation or business is the provision of one or more crypto-asset services to clients on a professional basis, and that is allowed to provide crypto-asset services in accordance with Article 59 MiCA.

• ART

  Asset-referenced token — a type of crypto-asset that is not an electronic money token and that purports to maintain a stable value by referencing another value or right or a combination thereof, including one or more official currencies (MiCA Art. 3(1)(6)).

• EMT

  E-money token (electronic money token) — a type of crypto-asset that purports to maintain a stable value by referencing the value of one official currency (MiCA Art. 3(1)(7)).

• Other crypto-asset

  Crypto-asset other than an ART or EMT — typically utility or other tokens falling under Title II of MiCA (offer to the public / admission to trading) rather than the ART/EMT issuer authorisation regimes.

• NCA

  National competent authority — the authority or authorities designated by each Member State under Article 93 MiCA to carry out the functions and duties provided for in the Regulation.

• Passporting

  Under MiCA, an authorised CASP may provide services across the EEA on the basis of home-state authorisation, subject to notification to host NCAs. The ESMA register lists passport countries associated with authorised services.

• White paper

  A disclosure document required for offers to the public or admission to trading of crypto-assets (and for ART/EMT issuers). White papers in the ESMA register are not approved by NCAs; they are notified disclosures.

• LEI

  Legal Entity Identifier — a 20-character alphanumeric code based on ISO 17442 that uniquely identifies a legal entity. Used as the primary key for CASP entries in this toolkit.

• NCASP

  Non-authorised / non-compliant crypto-asset service provider entries as published in ESMA register of entities reported for operating without authorisation or otherwise flagged. Not a complete fraud database.

• iXBRL

  Inline XBRL — the machine-readable format required by Commission Implementing Regulation (EU) 2024/2984 for crypto-asset white papers, using ESMA MiCA taxonomy.

• Crypto-asset services (a–j)

  MiCA Article 3(1)(16) defines ten crypto-asset services. Letters below match the short codes used in the ESMA CASP CSV and on this site:

  • a custody — Custody and administration of crypto-assets on behalf of clients
  • b trading platform — Operation of a trading platform for crypto-assets
  • c exchange for funds — Exchange of crypto-assets for funds
  • d exchange for crypto — Exchange of crypto-assets for other crypto-assets
  • e execution of orders — Execution of orders for crypto-assets on behalf of clients
  • f placing — Placing of crypto-assets
  • g reception/transmission of orders — Reception and transmission of orders for crypto-assets on behalf of clients
  • h advice — Providing advice on crypto-assets
  • i portfolio management — Providing portfolio management on crypto-assets
  • j transfer services — Providing transfer services for crypto-assets on behalf of clients