On the 31st of January 2025, the European Securities and Markets Authority published a supervisory briefing with the aim to align practices across EU Member States under Regulation 2023/1114/EU (MiCAR). The briefing provides clear guidance on, notably the ability of crypto asset service providers (CASPs) offering their service in the EU to operate autonomously and with sufficient in-country staff; outsourcing and the limits to the externalisation of functions and services; suitability of personnel and the importance for CASPs to demonstrate effective technical knowledge of the crypto ecosystem. National competent authorities are expected to apply the principles in the briefing during authorisation procedures and to ensure continued adherence for CASPs once these have been authorised.
