Regulatory AlertsIreland: crypto & digital assets regulation
RegulatedMiCAR CASP licensing via CBI; strict custody and ART/EMT authorisation
- Lead regulator
- Central Bank of Ireland
- Also involved
- EBA (supervisory convergence) · Data Protection Commission (GDPR)
- Core law
- Markets in Crypto-Assets Regulation (MiCAR)
- Entry capital
- EUR 125,000 (CASP)
- Approval timeline
- 4-6 months for CASP authorization
- Customer assets
- Segregated custody required; no commingling
- Data protection
- GDPR · Data Protection Commission
- Sandbox
- No
Ireland regulates crypto-asset services under the EU MiCAR framework, supervised by the Central Bank of Ireland (CBI). The regime mandates authorization for Crypto-Asset Service Providers (CASPs), with specific, rigorous requirements for Asset-Referenced Token (ART) and Electronic Money Token (EMT) issuers. The CBI emphasizes local substance, robust governance, and strict custody standards.
Which licence do you need?
| Your activity | Requirement | Capital | Timeline | Authority |
|---|---|---|---|---|
| Exchange / trading platform | LicenceCASP Authorisation[1][2] Requires robust local substance and governance under MiCAR | EUR 125,000 | 4-6 months | Central Bank of Ireland |
| Custody of client assets | LicenceCASP Authorisation[3][2] High-priority supervisory risk; strict segregation required | EUR 125,000 | 4-6 months | Central Bank of Ireland |
| Token issuance / public offering | LicenceCASP Authorisation[2] General crypto-asset issuance falls under CASP regime | EUR 125,000 | 4-6 months | Central Bank of Ireland |
| Broker-dealer / OTC desk | LicenceCASP Authorisation[4] Professional arrangement of transactions requires CASP license | EUR 125,000 | 4-6 months | Central Bank of Ireland |
| Stablecoin issuance | LicenceART/EMT Issuer Authorisation[5] ART/EMT issuers face distinct, rigorous authorization | Uncertain | Uncertain | Central Bank of Ireland |
| Crypto payments acceptance | LicenceCASP Authorisation MiCAR supersedes PSD2 for crypto-asset payments | EUR 125,000 | 4-6 months | Central Bank of Ireland |
| Mining / staking services | Uncertainverify with regulator MiCAR scope on mining/staking is limited/unclear | — | — | — |
| Advisory / portfolio management | Uncertainverify with regulator Advisory services not explicitly detailed in MiCAR CASP scope | — | — | — |
New — what changed recently
- 2026-05-12Guidance Note for ART/EMT Issuers — CBI issued detailed guidance on authorization and supervision for token issuers under MiCAR.[5]
- 2026-04-02MiCAR Industry Briefing: CASP Licensing — CBI outlined supervisory expectations, emphasizing local substance and control for CASP applicants.[1]
- 2025-07-28FAQs on MiCAR and PSD2 Interplay — Clarified that MiCAR takes precedence over PSD2 for crypto-asset service providers.
- 2024-12-19Addendum to Consumer Protection Code 2012 — Extended Consumer Protection Code requirements to ART/EMT issuers and CASPs.[6]
Market-entry checklist
- 1Establish local Irish substanceEnsure key functions and decision-making are located in Ireland per CBI expectations.
- 2Submit Pre-Application materialsComplete the Pre-Application stage and risk evaluation questionnaire before formal submission.
- 3Prepare Key Facts DocumentDraft the KFD detailing services, governance, and risk management as per CBI guidance.
- 4Demonstrate robust custodyImplement strict segregation and control mechanisms for client assets, a high supervisory priority.
- 5File formal CASP applicationSubmit the application via the CBI portal with the three-year programme of operations.
Sources
- Central Bank of Ireland MiCAR Industry Briefing: Path to Success for CASP Licensing · 2026-04-02
- Central Bank of Ireland MiCAR Authorisation and Supervisory Expectations · 2024-12-16
- Supervisory Expectations for CASPs · 2026-03-10
- Suspicious Transaction and Order Report (STOR) Form · 2026-04-14
- Guidance Note for Issuers of Asset-Referenced Tokens and Electronic Money Tokens · 2026-05-12
- Addendum to the Consumer Protection Code 2012 – December 2024 · 2024-12-19