Crypto licence in Estonia: MiCA CASP authorisation

A crypto licence in Estonia in 2026 is a MiCA CASP authorisation from Finantsinspektsioon, the Estonian Financial Supervision Authority. MiCA sets own funds at € 50 000, € 125 000 or € 150 000 depending on the services. The Estonian VASP licences issued by the FIU stopped being a permission on 1 July 2026, so every provider files a new application. Below: what the regulator checks, what it costs, how long it takes, how to buy a company that already holds an authorisation and how the authorisation is passported across the EEA.

What changed on 1 July 2026

Until 2026 crypto companies in Estonia worked under a virtual currency service provider registration issued by the Financial Intelligence Unit. That regime is over. Finantsinspektsioon is now the single competent authority for crypto-asset services, and the old FIU records were cancelled on 1 July 2026.

If someone sold you an Estonian «crypto licence» in 2024 or 2025, it stopped being a permission on that date. It does not convert, it does not extend, and it cannot be renewed. The only question worth asking now is whether your business model fits a CASP authorisation and how fast you can file.

Who needs a CASP authorisation

• custody and administration of crypto-assets for clients;
• exchange of crypto-assets for funds or for other crypto-assets;
• operating a trading platform;
• execution, reception and transmission of orders;
• placement of crypto-assets;
• transfer services, portfolio management, advice.

Serving clients in the European Union from outside it, without authorisation and without reverse solicitation, counts as unauthorised activity under MiCA.

What it costs

Three different numbers get confused in most articles, so here they are separately.

• Application processing fee — € 3 000, paid to Finantsinspektsioon when you file.
• Own funds — set by MiCA, the same in every member state, and depend on the class of services: € 50 000 for advice and order execution, € 125 000 for custody or exchange, € 150 000 for a trading platform. The requirement is the higher of that floor or one quarter of the previous year's fixed overheads.
• Annual supervision fee — set by Finantsinspektsioon each year.

Our own fee is quoted in writing after a model review at a consultation (30 min — €100; written — from €200). We do not publish a fixed price before we know which service classes you need, because an advisory-only licence and a custody-and-exchange platform are very different files.

How long it takes

MiCA gives the regulator 25 working days to confirm that the application is complete, and 40 working days after that to decide. What the timeline tables usually omit is the preparation: assembling a fileable application takes three to six months for most teams. A realistic total, from first call to authorisation, is four to twelve months.

What Finantsinspektsioon actually checks

• fit and proper assessment of directors and beneficial owners — reputation, experience, sources of wealth;
• real substance in Estonia: management present, office, staff, decisions taken locally;
• AML/CFT programme, appointed MLRO, transaction monitoring, sanctions screening, Travel Rule;
• ICT and operational resilience under DORA, including outsourcing and incident reporting;
• segregation of client crypto-assets and funds, custody policy, key management;
• complaints handling, conflicts of interest, marketing communications;
• capital, prudential safeguards and a wind-down plan.

One authorisation, the whole EEA

A CASP authorisation obtained in Estonia is passported to other member states by a notification under Article 65 of MiCA. The provider tells Finantsinspektsioon which states it will serve, which services, the start date and any activities outside MiCA. The regulator passes the notification on within 10 working days, and the provider may start from the date it is told the information was passed on, or at the latest from the 15th calendar day after its notification. Finantsinspektsioon charges no fee for the notification. You are supervised in Estonia and serve clients across the European Economic Area without a second licence, which is the main reason the jurisdiction is still worth choosing.

Buying a ready-made licensed company in Estonia

A ready-made Estonian crypto company is worth buying when it holds a MiCA CASP authorisation. Under Article 83 of MiCA, anyone who decides to acquire a holding that reaches 20 %, 30 % or 50 % of the voting rights or capital first notifies Finantsinspektsioon in writing, and the regulator has up to 60 working days to assess the buyer (MiCA Art. 83).

• Company with an old FIU licence. Since 1 July 2026 that licence gives no right to provide crypto-asset services; after the purchase the company still files a full CASP application.
• Company with a CASP authorisation. The deal is a change of control: the regulator acknowledges the notification within two working days, then has up to 60 working days to assess the acquirer.
• What we check before you sign. The target’s entry in Finantsinspektsioon’s list and in ESMA’s register, its authorised services and countries, and what the Article 83 notification needs from you. How to read the Estonian entries: Estonia CASP register: check a crypto firm; for firms authorised elsewhere in the EEA: MiCA CASP register guide.

Estonia, Lithuania or Malta

Under MiCA the rulebook, capital classes and statutory clock are the same in all three countries. The differences are the regulator, the language you will correspond in for years and the cost of local substance.

Sources: ESMA list of grandfathering periods (Art. 143(3) MiCA); ESMA interim MiCA register, CASP file counted by home member state, Article 60 notifications included; Finantsinspektsioon, CASP authorisation and the € 3 000 processing fee; Bank of Lithuania on the end of the transitional period. Detail by country: crypto licence in Malta, crypto licence in Lithuania, MiCA CASP licence in the EU; every regime we handle, side by side: crypto licensing by jurisdiction.

How we work on it

1. Model review: consultation, 30 min — €100

We map what you actually do onto MiCA service classes, tell you which ones you need and whether Estonia is the right regulator for you. If it is not, we say so.

2. Structure and substance

Company, management, office, staffing plan, budget and capital — built to what the regulator checks.

3. The application file

Programme of operations, AML/CFT policies, ICT and security documentation, custody and safeguarding rules, business continuity, wind-down. This is where applications are actually won or lost.

4. Filing and correspondence

We file, answer the regulator's questions and keep the deadline clock visible to you.

5. After authorisation

Reporting, MLRO support, staff training, changes of control and service classes.

Frequently asked questions

Is my old Estonian VASP licence still valid?

No. Legacy virtual currency service provider licences ceased to be valid on 1 July 2026 and the register entries were cancelled.

Can the old licence be converted into a CASP authorisation?

No. There is no automatic conversion. A full application to Finantsinspektsioon is required.

Which EU country is cheapest for a crypto licence?

MiCA is one rulebook: capital, documentation and supervision requirements are the same across the Union. What differs is regulator throughput, language of correspondence and the cost of local substance. Choose by how closely the regime matches your model.

Can I buy a ready-made Estonian crypto company with a licence?

The FIU licences that such companies used to carry ended on 1 July 2026, so a company bought for an old licence brings no permission with it. A company that holds a MiCA CASP authorisation can be acquired, but under Article 83 of MiCA anyone who decides to acquire a holding reaching 20 %, 30 % or 50 % of the voting rights or capital must notify Finantsinspektsioon in writing first, and the regulator assesses the acquirer within 60 working days (MiCA Art. 83). Plan it with the same diligence as an application.

How much does a crypto licence in Estonia cost?

Finantsinspektsioon charges a €3 000 processing fee per CASP application. MiCA sets own funds at €50 000, €125 000 or €150 000 depending on the services, and Finantsinspektsioon sets an annual supervision fee each year. Our own fee is quoted in writing after a 30-minute consultation (€100).

How long does Finantsinspektsioon take to assess a change of control?

It acknowledges the Article 83 notification within two working days and then has up to 60 working days to assess the proposed acquirer. Build that time into the deal before you sign.

Where can I check whether an Estonian firm is authorised?

In Finantsinspektsioon’s list of crypto-asset service providers and in ESMA’s interim MiCA register. How to read both: Estonia CASP register: check a crypto firm.

Do I need a real office and staff in Estonia?

Yes. Substance is assessed: management present in the country, decisions taken there, key functions not outsourced away.

Reviewed: 26 October 2026, against the Finantsinspektsioon announcements of 23 March and 30 June 2026, Regulation (EU) 2023/1114 (MiCA), ESMA’s list of grandfathering periods and ESMA’s interim MiCA register.