Regulatory AlertsDenmark: crypto & digital assets regulation
RegulatedVASP licensing via Finanstilsynet under MiCA; AML supervision by FSA
- Lead regulator
- Finanstilsynet (Danish Financial Supervisory Authority)
- Also involved
- FSA (AML/CFT supervision) · Danish Business Authority (company registration)
- Core law
- Act on Investment Broker Companies and Investment Services and Activities (consolidated)
- Entry capital
- EUR 125,000 (CASPs under MiCA)
- Approval timeline
- 3-6 months for CASP authorization
- Customer assets
- Segregated custody required; no commingling
- Data protection
- GDPR · Danish Data Protection Agency (Datatilsynet)
- Sandbox
- Yes - Finanstilsynet Regulatory Sandbox
Denmark regulates crypto-asset service providers (CASPs) primarily through the Danish Financial Supervisory Authority (Finanstilsynet) under the consolidated Act on Investment Broker Companies. The regime aligns with EU MiCA, requiring authorization for exchange, custody, and other services. AML supervision is also enforced by the FSA under the Danish AML Act.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Exchange / trading platform | LicenceCASPs authorization[1] MiCA-compliant authorization required for trading platforms | EUR 125,000 | 3-6 months | Finanstilsynet |
| Custody of client assets | LicenceCASPs authorization[1] Custody of client crypto-assets requires CASP license | EUR 125,000 | 3-6 months | Finanstilsynet |
| Token issuance / public offering | RegistrationProspectus registration[1] Prospectus required unless exempt; MiCA applies to ARTs/EMTs | — | — | Finanstilsynet |
| Broker-dealer / OTC desk | LicenceInvestment Broker Company license[1] OTC desks may require investment firm authorization | — | — | Finanstilsynet |
| Stablecoin issuance | LicenceART/EMT authorization[1] MiCA regulates Asset-Referenced Tokens and E-Money Tokens | — | — | Finanstilsynet |
| Crypto payments acceptance | LicenceCASPs authorization[1] Crypto payment services fall under CASP scope | EUR 125,000 | 3-6 months | Finanstilsynet |
| Mining / staking services | Uncertainverify with regulator Not explicitly covered by MiCA; AML obligations may apply | — | — | — |
| Advisory / portfolio management | LicenceInvestment Broker Company license[1] Investment advice on crypto-assets requires authorization | — | — | Finanstilsynet |
New — what changed recently
Market-entry checklist
- 1Register with Danish Business AuthorityIncorporate as a Danish company or register a branch before applying for authorization
- 2Apply for CASP AuthorizationSubmit application to Finanstilsynet with business plan, governance, and capital proof
- 3Demonstrate Minimum CapitalHold EUR 125,000 in eligible own funds for CASP activities
- 4Implement AML/CFT FrameworkEstablish compliance program supervised by Finanstilsynet under Danish AML Act
- 5Prepare Prospectus if IssuingFile prospectus with Finanstilsynet for token offerings unless exempt under MiCA