MiCA — the EU's Markets in Crypto-Assets Regulation — came into full effect in December 2024. It is the most significant regulatory development in the crypto sector since its inception: a single, directly applicable EU framework that governs the issuance of crypto-assets, the authorisation of crypto-asset service providers (CASPs), and the obligations of asset-referenced and e-money token issuers. If your business touches crypto-assets in the EU, MiCA applies to it.

 

Luxembourg occupies a distinctive position in this landscape. The CSSF — Luxembourg's financial sector regulator — is one of Europe's most established regulatory bodies for digital finance. Luxembourg has a well-developed legal framework for crypto funds and digital banking, and a significant concentration of financial institutions exploring crypto-asset services. If you are seeking a MiCA licence as your European operating base, Luxembourg is one of the most credible jurisdictions in which to do so.

 

Jurisconsul has advised crypto and blockchain businesses since before these frameworks existed. We are ranked by Legal 500 in Fintech — the recognition that counts in this space. We advise from a position of both legal depth and practical familiarity with the technology, which means our compliance advice is grounded in how your business actually works rather than in a generic regulatory checklist.

 

MiCA Authorisation and Compliance

We advise businesses seeking CASP authorisation under MiCA — from initial regulatory assessment and application strategy through to the preparation of compliance programmes, governance structures, and ongoing reporting obligations. We also advise issuers of crypto-assets, asset-referenced tokens, and e-money tokens on the prospectus and white paper requirements, offering restrictions, and issuer obligations under MiCA.

 

CSSF Regulatory Engagement

We advise on the CSSF authorisation process, pre-application engagement, and ongoing regulatory correspondence. We have experience with Luxembourg's existing virtual asset service provider (VASP) registration framework and assist businesses in transitioning from VASP registration to MiCA CASP authorisation as the frameworks converge.

 

Crypto Funds and Structuring

Luxembourg's fund industry is the largest in Europe. We advise on the structuring of crypto investment funds — whether as Luxembourg specialised investment funds (SIFs), reserved alternative investment funds (RAIFs), or UCITS-compliant structures with digital asset exposure. This includes regulatory classification, custody arrangements, AML/KYC framework design, and investor documentation.

 

Digital Banking and Payment Services

We advise payment institutions, e-money institutions, and digital banks on the intersection of the Luxembourg payment services framework, PSD2, and the emerging digital finance regulatory requirements. This includes licence applications, IT outsourcing arrangements, and compliance with the CSSF's guidelines on operational resilience.

 

NFT, Tokenisation, and Smart Contracts

Non-fungible tokens and tokenised assets raise overlapping legal questions in intellectual property, financial regulation, and consumer protection. We advise on the IP rights embedded in or associated with NFTs, the regulatory classification of tokenised instruments under MiCA and the EU's DLT pilot regime, and the legal enforceability of smart contract arrangements.

 

AML, KYC, and Compliance Programmes

Crypto-asset businesses are subject to the full force of EU and Luxembourg AML/CFT obligations. We design and review AML/KYC compliance programmes, advise on the obligations specific to CASPs under the Transfer of Funds Regulation and the AMLD6 framework, and represent clients in CSSF supervisory interactions on compliance matters.

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