MiCA & VASP Registration in Austria: A Guide for Crypto Businesses
Austria was one of the first EU countries to implement VASP registration. Now with MiCA in force, here is what crypto businesses need to comply.
Austria has been ahead of the curve in crypto regulation. The Financial Market Authority (FMA) began accepting VASP (Virtual Asset Service Provider) registrations in 2022, and with MiCA (Markets in Crypto-Assets Regulation) now in force across the EU, Austria is well-positioned as a regulated crypto hub.
What is VASP Registration?
Any company providing crypto exchange, wallet custody, or transfer services in Austria must register with the FMA under the FM-GwG (Finanzmarkt-Geldwäschegesetz). Without registration, the business is illegal.
MiCA Requirements (2024)
MiCA applies to all Crypto Asset Service Providers (CASPs) operating in the EU. Key requirements:
- Capital requirements based on service type (€50k–€150k)
- Full AML/KYC program in place
- White paper for each crypto asset offered
- Governance and risk management framework
- Prudential requirements and insurance
The FMA Registration Process
The registration process typically takes 3–6 months. NEXORA prepares the complete documentation package, submits the application, and manages all FMA communications on your behalf.
Contact us for a free initial assessment of your crypto business's compliance requirements.
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