The Financial Supervision Commission (FSC) expects companies registered as Virtual Asset Service Providers (VASPs) that wish to obtain authorisation under the Markets in Crypto-Assets Regulation (MiCA) to submit their applications by 16 February 2026. The transitional period outlined in § 3(1) of the Transitional and Final Provisions of the Crypto-Asset Markets Act will conclude on 1 July 2026. The review of submitted documentation is estimated to take between four to five months. Any suspension of the statutory deadlines, or their resumption at the request of, or as a result of actions by, the applicant will substantially prolong the procedure and will make it impossible for the FSC to issue a decision before 1 July 2026.

This is stated in a letter sent by the FSC to the companies entered in the crypto-assets register, so called VASPs.

To date, the FSC has held more than 30 meetings with companies that have expressed an intention to apply for authorisation. The Commission’s experts have provided clarifications on the regulatory requirements and expectations regarding the preparation of the documentation to all interested parties.

After 16 February 2026, preliminary meetings with new companies will be discontinued, and the Commission’s efforts will be focused on the review of applications already submitted. Meetings will be held only exceptionally with companies that have already undergone a preliminary assessment, and solely for the purpose of clarifying additional issues.

Companies that plan to discontinue their crypto-asset activities by 1 July 2026 will be required to submit to the FSC, by 1 March 2026 at the latest, a plan for the orderly and transparent wind-down of their activities, including the arrangements for settling relations with clients. Entities that do not carry out any activity are able to apply for deregistration from the register under § 5(3) of the Transitional and Final Provisions of the Crypto-Asset Markets Act, in accordance with the procedure laid down in § 6 of the same Act.

Additional information, including a “Frequently Asked Questions on Crypto-Assets” section is available in the “Crypto-assets” section of the FSC’s website.