CASP License in Spain

The Markets in Crypto-Assets Regulation (MiCA) introduces a unified regulatory framework for crypto-assets across the European Union (EU), promoting legal certainty, investor protection, and market stability.

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In Spain, the National Securities Market Commission (CNMV) oversees CASP licensing under the MiCA framework. This ensures full compliance with EU regulatory standards. A CASP license in Spain creates a solid legal foundation for operating across the EU. It also builds trust with banks and partners.

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About the Service

One of the core requirements under MiCA is obtaining a Crypto-Asset Service Provider (CASP) license, mandatory for businesses offering crypto asset services. This licensing ensures compliance with strict standards on governance, security, and anti-money laundering (AML), enabling licensed CASPs to operate seamlessly across all EU member states. Whether you are an emerging startup or an established operator, obtaining a CASP license is essential to access the EU’s vast and dynamic market for digital assets.

In Spain, the National Securities Market Commission (CNMV) is the competent authority overseeing CASP licensing under MiCA. Businesses operating or planning to provide crypto-asset services in Spain must adhere to local implementation requirements alongside MiCA’s EU-wide provisions. Our firm has a thorough knowledge of Spanish law, ensuring that your compliance efforts are efficient and effective. We can help your business meet compliance requirements and unlock the potential of the EU crypto market!

Key Numbers about a CASP License in Spain

3 months Licensing timeline

Average time to obtain a CASP license after submission.

From 0 to 55% Personal tax

Applicable personal income tax range in Spain.

At least several Directors requirement

Minimum number of directors for a compliant CASP structure.

Up to €150k Share capital

Capital requirements depend on the business model.

up to 49% Corporate tax

Standard corporate income tax rate.

25% Capital gains tax

Tax rate applied to investment income.

Legal Opinion about a CASP License in Spain

“Obtaining a CASP license in Spain is essential for businesses offering crypto-asset services. Applicants must meet requirements, including robust AML/CFT compliance, a formal governance structure, and sufficient operational capital. Once licensed, CASPs must adhere to ongoing reporting obligations and maintain compliance with Spanish and EU regulations. A CASP license enhances credibility and provides access to the EU market under a clear regulatory framework”

Types of Activities with a CASP License in Spain

Providing custody and administration of crypto-assets on behalf of clients
This service means safekeeping or controlling, on behalf of third parties, crypto-assets or the means of access to such crypto-assets, where applicable in the form of private cryptographic keys. Holdings of crypto-assets on behalf of the clients shall be segregated from CASP’s holdings.
Operation of a trading platform for crypto-assets
This service contains of the management of one or more multilateral systems, which brings together or facilitates the bringing together of multiple third-party buying and selling interests for crypto-assets – in the system and in accordance with its rules – in a way that results in a contract, either by exchanging one crypto-asset for another, or a crypto-asset for funds.
Exchange of crypto-assets for funds
This service means the conclusion of purchase or sale contracts concerning crypto-assets with clients for funds by using proprietary capital.
Exchange of crypto-assets for other crypto-assets
This service means the conclusion of purchase or sale contracts concerning crypto-assets with clients for other crypto-assets by using proprietary capital.
Execution of orders for crypto-assets on behalf of clients
This service means concluding agreements to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets on behalf of third parties and includes the conclusion of agreements to sell crypto-assets at the moment of their issuance.
Placing of crypto-assets
This service includes the marketing, on behalf of or for the account of the offeror or of a party related to the offeror, of crypto-assets to purchasers. Before placing the crypto-assets a CASP shall obtain the agreement of the issuers or any third party acting on their behalf.
Reception and transmission of orders for crypto-assets on behalf of clients
This service means the reception from a person of an order to buy or to sell one or more crypto-assets or to subscribe for one or more crypto-assets and the transmission of that order to a third party for execution.
Providing advice on crypto-assets
This service means offering, giving or agreeing to give personalized recommendations to a third party, either at the third party’s request or on the initiative of the a CASP providing the advice, in respect of one or more transactions relating to crypto-assets, or the use of crypto-asset services.
Providing portfolio management on crypto-assets
This service includes managing portfolios in accordance with mandates given by clients on a discretionary client-by-client basis where such portfolios include one or more crypto-assets.
Providing transfer services for crypto-assets on behalf of clients
This service means transfer, on behalf of a natural or legal person, crypto-assets from one distributed ledger address or account to another. Such service may be provided without virtual currency wallet opened for a CASP’s client.

Benefits of Obtaining a CASP License in Spain

Seamless cross-border operations within the EU
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Improved customer acquisition and retention
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Access to a regulated and transparent market
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Enhanced institutional trust and banking access
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Opportunities for institutional funding and partnerships
- Licensed crypto service providers can attract venture capital, hedge funds, and institutional investors.
- Regulatory compliance opens doors to collaboration with banks, payment service providers, and fintech companies.
Legal protection against regulatory uncertainty
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Step by Step Description

Clear overview of key services, with simple descriptions and strong CTAs that help users quickly scan options and take action

Step 1

Incorporation stage

Company formation in Spain
Provision of a registered address for 1 year
Opening corporate bank account and transferring the share capital
Appointment and employment of a local director
Detailed company structure documentation

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Step 2

Pre-licensing stage

Preparation and submission legal and financial documents (non-exhaustive list) according to MiCA
Review of existing policies and procedures, if the company already has them

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Step 3

Licensing stage

CASP license application assistance
Conducting communication with the CNMV during the license process

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Our Experts in This Area

Yuliia Kravchenko

Head of Licensing & Advisory

Step by step description

Name Selection and Availability Check

Verification and reservation of a compliant company name that meets jurisdictional requirements, avoids registration conflicts, and aligns with brand positioning and business strategy.

Document Preparation and Collection

Preparation, collection, and verification of all required corporate and personal documentation, ensuring accuracy, completeness, and compliance with local regulations and international standards.

Regulatory Review and Approval

Support throughout the regulatory review process, including communication with authorities, handling of additional requests, and maintaining application progress without delays.

Legal Structure and Ownership Model

Definition of the optimal corporate structure and ownership model, including limited liability, holding, or joint stock options, with full alignment to business goals, tax efficiency, and regulatory requirements.

Company Registration Process

Management of the full incorporation process, including document submission, coordination with authorities, and follow-up to ensure smooth and timely registration.

Licensing, Tax Setup, and Compliance

Completion of all required approvals, tax registration setup, and establishment of a compliance framework to support ongoing operations, reporting, and long-term stability.

Regulation

In Spain, the key legislative act that implements the provisions of the MiCA is the MiCA Enforcement Act, officially known as the Spanish Law 6/2023, of 17 March, on Securities Markets and Investment Services. This act was passed by the Spanish Parliament on July 3, 2024, and came into force on July 20, 2024. It outlines the CNMV's supervisory powers, including the authority to issue directives, suspend services, and enforce compliance among CASPs. Additionally, the act establishes administrative penalties, reporting obligations, and procedural rules to ensure adherence to EU supervisory standards and directives.

Licensing Authority

The CNMV is the competent authority responsible for the supervision and licensing of CASPs in Spain. The CNMV ensures that entities comply with both MiCA and relevant national legislation. It provides guidance, oversees compliance, and has the authority to grant or revoke licenses for crypto-asset service providers operating within Spain.

Procedure, timelines, fees:

Once MiCA becomes fully effective after December 30, 2024, the CNMV will have 25 business days to verify that the application contains all the necessary information, without assessing its quality at this stage. If any information is missing, the applicant may be asked to supplement it within a specified timeframe. Once the missing information, if any, has been provided, the CNMV has 40 business days to conduct a substantive review. During the substantive review period, the CNMV may request additional clarifications; however, only the first such request may suspend the 40-day period for up to 20 business days. Finally, the authorization procedure is subject to payment in accordance with Spain’s administrative fees, and if the application is approved, an additional fee applies in accordance with the CNMV’s administrative fees.

Transition Period

Under Spain’s MiCA transitional framework, existing VASPs have a 12-month transition period to comply with MiCA provisions. Specifically, VASPs registered with the CNMV for AML purposes before December 30, 2024 are permitted to continue their operations until December 31, 2025. Within this period, these entities must obtain authorization under MiCA to continue their services beyond the transitional phase. This approach reflects Spain's commitment to aligning its national regulatory framework with MiCA provisions promptly.

Requirements for key persons

Capital Requirement

Documentation Requirements

Corporate Income Tax (CIT)

The standard rate of CIT is 25% of taxable income, irrespective of the level of income. Corporations are subject to a minimum tax obligation, even in loss-making years. For private limited liability companies (S.L.), this amounts to EUR 500 annually, while for public limited companies (S.A.), it is EUR 3,500 annually. CIT returns must be filed by 30 April of the following year or sent electronically via the Spanish Tax Agency's electronic filing system by 30 June of the following year. According to the Spanish cryptocurrency tax reform, which became effective on March 1, 2022: the special rate does not apply if deriving income from cryptocurrency is part of the main activity of the relevant business. Specifically, this means that it does not apply to businesses that trade cryptocurrencies on a commercial basis or businesses that mine cryptocurrency on a commercial basis. Income from such activities is taxed in accordance with the progressive income tax thresholds.

Capital Gains Tax (CGT)

Capital gains are generally taxed at a rate of 27.5%, which corresponds to the taxation of income from capital investments. Under the new tax reform regarding cryptocurrencies, all gains from the sale or disposal of cryptocurrency are taxed as capital gains (so at a rate of 27.5%), regardless of how the asset was held prior to the sale. However, exchanging one cryptocurrency for another is considered an intermediate transaction and is not taxed; therefore, taxation only takes effect when the crypto asset is converted into euros or another fiat currency. Regarding cryptocurrency income received starting in the 2025 calendar year, individuals required to withhold capital gains tax must now prepare tax returns at the taxpayer’s request.

Personal Income Tax (PIT)

All natural persons who are domiciled in Spain or for whom Spain is a regular place of residence are taxed with unlimited income tax (“unlimited" meaning that basically all their Spanish and foreign income is subject to income tax). Furthermore, even persons who are not domiciled in Spain can be taxed on certain income generated in Spain. Spain employs a progressive tax system for individuals, with rates ranging: €13,309–21,617 - 20% €21,618–35,836 - 30% €35,837–69,166 - 40% €69,167–103,072 - 48% €103,073–1,000,000 - 50% €1,000,001 and above - 55% As of 2025, the PIT exemption threshold has been increased to EUR 13,308.

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Clients confirm our quality

“They helped create the board, adjust the entire corporate structure, adding the necessary legal entities”

Manimama prepared our project for MiCA. And they didn't just make the documents, they helped create the board, adjust the entire corporate structure, adding the necessary legal entities, conclude contracts between them, create a consistent picture of all providers and elements, without which our application would not have been so complete.

“Thank you for your expertise and patience!”

Before signing the contract, we made six rounds of negotiations, because my client had a lot of questions that concerned the technical infrastructure, the board creation, and the formation of the authorized capital. We got the most complete picture, which allowed us to choose this provider. Thank you for your expertise and patience!

“It is the comprehensive approach that they use and the willingness to help with any issue”

During the preparation of documents for MiCA, Manimama advised us on labor, administrative, and corporate law. Usually, providers do not do this, strictly limiting the list of works that they do under the contract. It is the comprehensive approach that they use and the willingness to help with any issue that arises along the way that attracts us as a client.