Crypto Assets Service Providers (CASP)
Crypto assets service providers are companies dedicated to the professional provision of one or more crypto asset services to their clients in accordance with the provisions of the MiCA Regulation.
The crypto-asset services they can provide are:
custody and administration of crypto assets on behalf of clients
management of a crypto asset trading platform
exchange of crypto assets for funds
exchange of crypto assets for other crypto assets
execution of orders related to crypto assets on behalf of clients
placement of crypto assets
receipt and transmision of orders related to crypto assets on behalf of clients
advice on crypto assets
management of crypto assets portfolios
provision of crypto asset transfer services on behalf of clients
Crypto asset services can be provided through centralised and decentralised platforms.
Centralised:
Providers are entities (i.e., legal persons) regulated under the MiCA Regulation, authorised and supervised by the CNMV, which provide one or more of the above crypto-asset services.The MiCA Regulation establishes a regime for the authorization, registration, and supervision of these service providers by the CNMV.
Descentralised:
crypto asset services can also be provided through decentralized platforms (or DEXs), which offer some of the above crypto asset services but have the ability to operate in a decentralized manner through smart contracts, without the existence of a central entity responsible for the proper functioning of the services provided and without the necessary investor protection guarantees.