A CASP, or crypto-asset service provider, is a company licensed under MiCAMiCAThe EU regulation on markets in crypto-assets, in force in Iceland since 1 January 2026, which sets the same rules for crypto services across the EEA. to provide services involving crypto-assetsCrypto-assetThe legal term for cryptocurrencies and tokens, meaning a digital representation of value or rights that can be transferred and stored on a blockchain.. In Iceland, the Central Bank of Iceland grants these licences under Act No. 101/2025 on markets in crypto-assets.
Which services need a licence?
MiCA lists ten types of crypto-asset service. The ones ordinary people are most likely to meet are:
- custody and administration of crypto-assets on behalf of clients
- operating a trading platform for crypto-assets
- exchanging crypto-assets for funds, such as krónur or euros
- exchanging crypto-assets for other crypto-assets
- transfer services for crypto-assets on behalf of clients
- advice and portfolio management
Each licence states which services the company may provide. A company licensed in one EEA country can also offer its services in other EEA countries.
Why does it matter?
To get a licence, a company must among other things have suitable management, enough capital and safe custody of client assets. It is then supervised and must follow the rules on anti-money launderingAnti-money laundering (AML)Rules and measures meant to stop the financial system, including crypto, from being used for money laundering or terrorist financing. and know your customerKnow your customer (KYC)A legally required check in which a company confirms who its customer is and what the business relationship is for, including with ID..
Before the act took effect on 1 January 2026, crypto-asset service providers in Iceland only had to be registered with the Central Bank of Iceland for anti-money laundering purposes.
The Central Bank publishes a register of supervised entities where you can look up crypto-asset service providers. Myntkaup was granted a CASP licence by the Central Bank of Iceland on 25 June 2026. Read more on the Licence and custody page.
A licence doesn't protect you from price swings, but it does mean a supervisor keeps watch over the business.
Everything in Myntkaup Learn is written and regularly reviewed by the Myntkaup editorial team. It is for education and is not investment advice. Editorial policy. Updated 18 October 2026.