#
MiCA passporting mechanics remain settled: an AFM-issued CASP licence enables EEA-wide operation. ESMA has reiterated that unauthorised entities, including non-EU CASPs, serving EU clients breach EU law and must cease services. Cross-border AML/CFT checks continue to apply irrespective of national MiCA-transposition status, with substantive detail deferred to FIM.
ESMA has reiterated, in a statement following the close of the EU-wide MiCA transitional period, that any entity — including non-EU CASPs — providing crypto-asset services to EU clients, including in the Netherlands, without a MiCA licence is in breach of EU law and must cease such services, extending explicitly to business-to-business contexts. This EU-wide statement is distinct from, and does not by itself establish, the Netherlands' own earlier national transitional-closure date of 30 June 2025 addressed under the licensing module; the two dates reflect different levels of the regime (national grandfathering versus EU-wide backstop) and should not be conflated.
Cross-border crypto-asset transfers involving Dutch CASPs also remain subject to applicable AML/CFT checks under the wider EU legal framework, irrespective of whether national law in a given member state has been fully adjusted to MiCA — though the substantive AML/CFT detail behind this observation (Wwft obligations, FIU-Nederland reporting, travel-rule mechanics) is deferred to the financial-integrity monitor's subscription baseline rather than independently developed here.
Outlook
Passporting mechanics are not expected to change in the near term; the item worth tracking is enforcement follow-through on ESMA's reiterated EU-wide statement against non-EU CASPs serving Dutch clients without authorisation, and whether NL-specific cross-border reporting-threshold detail — not established this cycle — is confirmed in a future pass against DNB or AFM guidance.
no periodic updates on record for this sub-brief
Sources and findings (3)
- T4 · The BlockAFM-issued CASP licence — the European Economic Area without seeking separate national authorisations, evidencing MiCA's passporting mechanism for Dutch-authorised firmsretrieved M4bindingin force
- T1 · ESMAESMA — any entity, including non-EU CASPs, providing crypto-asset services to EU clients (including in the Netherlands) without a MiCA licence is in breach of EU law and must cease such services, including in business-to-business contextsretrieved M4bindingin force
- T1 · ESMACross-border crypto-asset transfers involving Dutch CASPs — applicable AML/CFT checks under the wider EU legal framework, irrespective of whether national law has been fully adjusted to MiCA in a given Member Stateretrieved M3bindingin force