Crypto exchanges are the first contact with crypto assets for many young people. Since the EU regulation MiCA, providers that offer services to consumers in the EU must be authorised. This guide explains how to check the authorisation and which other details matter.
Quick answer: Crypto providers in the EU need an authorisation under the MiCA regulation. You check it in the ESMA register or the BaFin company database. Authorisation says nothing about price risk and does not replace your own check. As of November 2026.
The most important points
- Providers of crypto-asset services must be authorised to serve consumers in the EU.
- You check authorisation in the ESMA register or the BaFin company database.
- Authorisation means requirements on governance, capital and consumer protection, but no guaranteed gains.
- Compare company name, seat and imprint with the register entry.
- If a provider is not authorised, you do not pay in. You look for another provider.
What does MiCA mean for crypto exchanges?
MiCA is the EU regulation on markets in crypto-assets. It covers providers that custody, trade or broker crypto assets. In English these providers are called CASPs. According to the joint information sheet of the European supervisory authorities, they must be authorised to provide services to consumers in the EU.
How do you check the authorisation step by step?
- Open the ESMA register on crypto-assets and search for the provider’s name.
- Check the same provider in the BaFin company database.
- Compare the full company name with the imprint on the website.
- Make sure the authorisation covers the service you want to use.
Which details should you compare?
| Check | Where to find it | Why it matters |
|---|---|---|
| Authorisation under MiCA | ESMA register, BaFin database | Without it, the legal framework for consumers is missing |
| Company name and seat | Imprint of the provider | You know who is responsible for the offer |
| Custody of crypto assets | Provider information | Shows how your assets are secured |
| Fees and spreads | Price list of the provider | Costs are not always visible at first glance |
| Customer service | Help pages of the provider | Important if you need to resolve access or payments |
Is an authorisation a seal of quality?
An authorisation shows that a provider meets a statutory framework. It includes requirements on governance, capital and consumer protection. It is not a verdict on whether a price will rise or whether a product suits your situation. Crypto assets can fluctuate sharply, and you can lose the entire amount invested.
What applies to providers without authorisation?
Providers without authorisation may not offer services to consumers in the EU. If you pay money there, the protection of the legal framework is unclear in a dispute. That is why the check should happen before the first payment, not afterwards.
Which transition rules exist?
Providers that were already active before the rules took effect had transitional periods. Concrete deadlines for Germany are published by the BaFin. Do not rely on memories of earlier deadlines when making a decision. Check the current register status instead.
Which risks remain despite authorisation?
- Price fluctuations that can quickly reduce your stake.
- Phishing sites that imitate an authorised provider.
- Fees for trading, deposits and withdrawals.
- Loss of access if you lose login details or wallet keys.
Frequently asked questions
How do I recognise a MiCA authorisation?
You recognise it by an entry in the ESMA register or in the BaFin company database. The name of the provider must match the company named in the imprint exactly. A note on the website alone is not enough.
Is a BaFin licence the same as a MiCA authorisation?
For crypto assets, the BaFin is the competent authority in Germany for authorisation under MiCA. Whether a provider is authorised is decided by the register entry. Terms such as seal or licence on a website do not replace this check.
What do I do if the provider is not in the register?
Then do not pay in there. Ask the BaFin if you are unsure whether a provider is authorised or which rules apply. A provider that pushes you to act quickly should make you suspicious.
Do I have to pay tax on crypto gains?
Taxation of crypto assets follows the applicable tax law. A draft from the Federal Ministry of Finance foresees changes for 2027, but it is not an adopted law. Clarify with the tax office or a tax adviser whether and how you must declare gains.
What to do now
- Check the provider in the ESMA register and the BaFin database before you sign up.
- Compare the company name with the imprint and the terms of use.
- Only invest amounts you could afford to lose.
- Keep login details safe and check sign-in pages for authenticity.
How authorisation and custody fit together
Authorisation concerns the provider as a company. It does not show in detail how your crypto assets are secured. Check whether the provider holds your assets itself, through a custodian, or whether you move them to your own wallet. Each setup carries its own risks, for example regarding login details or the failure of the provider.
What does the imprint tell you?
The imprint shows the full company name, the seat and the register data. Compare these details with the register entry. If the name or seat does not match, stop the sign-up and investigate. Also check whether the website uses a secure connection and whether the address matches the official domain exactly.
Warning signs you should not overlook
- Guaranteed returns or gains without risk.
- Pressure to pay quickly or to seize a chance.
- No imprint, or a company that does not appear in the register.
- Contact only through messengers or social media.
- Withdrawals are delayed or tied to conditions that the contract does not mention.
Questions to put to the provider
Before you pay in, clarify a few points in writing. Ask where the crypto assets are held and who takes over custody. Also ask which fees apply to trading, deposits and withdrawals, and how you can make contact in a problem. An answer that avoids the question is a reason to keep looking.
Banks and brokers as alternatives
Besides crypto exchanges, banks and securities firms also offer products. For them, the decisive question is which service they actually provide and under which supervision they operate. The check through register and imprint stays the same. Your decision depends on what you want to buy or store.
Related guides
- Money, account and credit: the overview for young adults
- Phishing damage: does insurance refund the money?
- Saver’s allowance 2026: how much investment income stays tax-free
- Contactless payment: what counts with a lost card and a block
Sources: ESMA: Markets in crypto-assets (MiCA), as of November 2026; BaFin company database, as of November 2026; Joint information sheet of the ESAs on crypto-assets (2025, German text).
Last updated: November 2026. This guide is general information, not individual advice.
