Get Your MiCA License. Fast.

EU compliance made easy for crypto startups

We help small crypto companies and CASPs get licensed under MiCA in Spain and Bulgaria, guiding you from idea to complete documentation, without technical headaches.

MiCA Form

WHO NEEDS A MICA LICENSE?

MiCA is coming. Are you ready?

If you offer crypto services in the EU, MiCA compliance is mandatory, not optional.

We support startups that want to:

  1. Operate crypto trading platforms.
  2. Offer custody or wallet services.
  3. Transfer or execute orders in crypto-assets
  4. Exchange crypto-assets for fiat or other tokens.
  5. Provide advice or portfolio management.

MiCA introduced strict standards, but we've simplified the process so you don’t have to navigate it alone.

WHY PAYCONSULTING?

Expert help. Zero guesswork.

Virtuopay isn’t just another legal advisor — we’re your hands-on guide to getting licensed, especially if you’re not deep into crypto regulation.

  1. Licensed operations in Spain & Bulgaria
  2. 100% focus on CASPs (not stablecoins or issuers)
  3. End-to-end support: Annex III & IV, VASP registration, AML documentation, capital planning
  4. Fast-track flows for smaller teams.

Our team has helped early-stage teams obtain licenses on time, ensuring they meet all critical regulatory requirements.

HOW IT WORKS

Your MiCA license in 3 steps:

1. Start the qualification form → We assess your case.

2. Get personalized feedback → See what’s needed, no commitment.

3. Work with our team → We prepare and submit all required documents quickly.

Want to know if you qualify?

It only takes 2 minutes to get started, and you’ll know if your company is eligible and what to do next.

MiCA Form

Frequently Asked Questions FAQ

Tot el que necessites saber

Which authority grants and supervises CASP licenses in Spain?

The National Securities Market Commission (CNMV) and the Bank of Spain are the primary authorities regulating and supervising compliance with the MiCA (Cryptoasset Markets) Regulation.

The CNMV oversees the implementation of MiCA, and the Bank of Spain exercises oversight, inspection, and sanctioning functions related to regulatory obligations, particularly for issuers of asset-referenced tokens and e-money tokens.

What is the required initial capital under MiCA for CASPs

Class 1 - 50.000 EUR Deposit:

Authorised for the following crypto-asset services:

  1. Execution of orders on behalf of clients;
  2. Placing of crypto-assets;
  3. Providing transfer services for crypto-assets on behalf of clients;
  4. Reception and transmission of orders for crypto-assets on behalf of clients;
  5. Advising on crypto-assets; and
  6. Providing portfolio management on crypto-assets.

Class 2 - 125,000 EUR Deposit:

Authorised for any  Crypto-asset services under class 1 and:

  1. Providing custody and administration of crypto-assets on behalf of clients;
  2. Exchange of crypto-assets for funds; and
  3. Exchange of crypto-assets for other crypto-assets.

Class 3 - 150,000 EUR Deposit:

Authorised for any  crypto-asset services under class 2 and:

  1. Operation of a trading platform for crypto-assets.

Are there any other prudential requirements?

Yes.

In addition to capital requirements, MICA requires that CASPs maintain a safeguard based on their fixed overheads from the previous year. Specifically, providers must hold financial resources equal to at least one-quarter of their fixed overheads, which are to be reviewed annually.

For CASPs that have been operating for less than one year, the fixed overheads are calculated based on their projected expenses for the first 12 months, as submitted during their application for authorization.

How are fixed overheads calculated?

To ensure that the fixed overheads reflect only the essential operational costs, MICA outlines certain deductions from the total expenses that CASPs must apply when calculating their fixed overheads.

MiCA itself does not define “fixed overheads,” but ESMA adopts a methodology for calculating them.

Fixed overheads equal: Total expenses minus Variable costs.

Fixed overheads include:

  • Salaries and rent;
  • IT infrastructure and operational expenses;
  • Insurance premiums;
  • Utilities and equipment leasing;
  • Depreciation and amortisation;
  • Non-performance-linked management costs;

Excluded from fixed overheads:

  • Fees or commissions paid directly to clients or agents;
  • Bonuses linked to revenue or trading activity;
  • Discretionary remuneration: Fully discretionary appropriations of profits or other variable remuneration are also deducted;
  • Non-recurring expenses: Expenses that are not part of ordinary activities are excluded from the calculation.

Can smaller CASPs use insurance policies?

Yes.

Smaller CASPs may leverage insurance coverage as a practical strategy to meet MiCA’s fixed overhead requirements. By securing appropriate insurance policies, these firms can manage and mitigate overhead obligations without depending entirely on their capital reserves. This method supports regulatory compliance while preserving financial stability.

 
For CASPs with constrained liquidity, insurance offers a viable alternative that helps fulfill MiCA’s obligations and promotes long-term growth and efficient operations.


Currently, almost none of the insurance companies offer such a solution, but Virtuopay has established a partnership with an insurance brokerage. 

What transitional arrangements apply to existing Spanish crypto firms?

Companies registered with the CNMV as virtual currency service providers under the Anti-Money Laundering Act, as of 30 December 2024, are permitted to continue their operations until 1 July 2026 without the need for a full MiCA license.

This grace period allows them to align with the upcoming regulatory framework by establishing internal policies, meeting capital thresholds, and setting up compliance structures. After 1 July 2026, all crypto businesses aiming to operate legally in Spain, or use the EU passporting regime, must obtain a MiCA license.

Companies registered between 30 December 2024 and 08 July 2025 (the date of entry into force of the new law) must apply for a license within 3 months. The period starts from July 8, 2025.

Are there any national deviations from MiCA in governance, capital, or compliance?

No.

The Spansh Act fully transposes MiCA’s requirements without significant variation. Licensing timelines, capital, governance, AML/KYC, cybersecurity, safeguarding, and suitability are aligned with EU Regulation (EU) 2023/1114.

Does Bulgaria retain the “tacit refusal” rule in its licensing procedure?

No.

Unlike some drafts, Bulgaria’s passed law eliminates “tacit refusal”-lack of response does not equate to denial. The FSC must follow MiCA’s defined approval timelines and cannot impose de facto rejections by silence.