{"id":1743,"date":"2025-08-26T12:01:37","date_gmt":"2025-08-26T09:01:37","guid":{"rendered":"https:\/\/sgklegal.gr\/?p=1743"},"modified":"2025-08-26T12:08:35","modified_gmt":"2025-08-26T09:08:35","slug":"casp-licensing-in-greece","status":"publish","type":"post","link":"https:\/\/sgklegal.gr\/en\/casp-licensing-in-greece\/","title":{"rendered":"New Licensing Procedure for Crypto-Asset Service Providers (CASPs) in Greece"},"content":{"rendered":"

Article originally published on Lawspot.gr in Greek.<\/a><\/p>\n

With Decision 8\/1059\/30.07.2025<\/strong>, the Hellenic Capital Market Commission (HCMC)<\/strong> established the procedure for submitting applications for the licensing of Crypto-Asset Service Providers (CASPs)<\/strong>, in the context of implementing the Regulation (EU) 2023\/1114 (MiCA)<\/strong>.<\/p>\n

1. What is the applicable regulatory framework?<\/h2>\n

1.1. The European framework (MiCA Regulation)<\/h3>\n

The MiCA Regulation introduces, for the first time, a unified regulatory framework for crypto-asset markets across the EU, aiming to:<\/p>\n

    \n
  • \n

    protect investors,<\/p>\n<\/li>\n

  • \n

    enhance transparency and supervision,<\/p>\n<\/li>\n

  • \n

    prevent regulatory fragmentation between Member States.<\/p>\n<\/li>\n<\/ul>\n

    Certain categories are excluded from its scope, such as unique and non-fungible crypto-assets (NFTs), deposits, and insurance products.<\/p>\n

    1.2. Greek Law 5193\/2025<\/h3>\n

    With Law 5193\/2025, which adapts Greek legislation to MiCA:<\/p>\n

      \n
    • \n

      the HCMC<\/strong> was designated as the competent authority for CASPs,<\/p>\n<\/li>\n

    • \n

      sanctions were introduced for the professional provision of services without a license (Article 107),<\/p>\n<\/li>\n

    • \n

      measures were provided for the protection of investors and whistleblowers (Articles 102 and 114).<\/p>\n<\/li>\n<\/ul>\n

      At the same time, CASPs remain subject to compliance obligations under AML\/CFT legislation<\/strong>.<\/p>\n

      2. What changes with HCMC Decision 8\/1059\/30.07.2025?<\/h2>\n

      For the first time in Greece, a clear and standardized procedure is established for licensing businesses that provide services related to cryptocurrencies and other crypto-assets.<\/p>\n

      2.1. Key elements of the new procedure<\/h3>\n

      2.1.1. Preliminary assessment<\/h4>\n

      Applicants may request a preliminary meeting with the HCMC to prepare more effectively before filing an official application.<\/p>\n

      2.1.2. Submission of the application<\/h4>\n

      The application must be accompanied by specific supporting documents and standard forms already published by the HCMC.<\/p>\n

      2.1.3. Assessment of the file<\/h4>\n
        \n
      • \n

        Receipt is acknowledged within 5 business days<\/strong>.<\/p>\n<\/li>\n

      • \n

        Completeness check is concluded within 25 business days<\/strong>.<\/p>\n<\/li>\n

      • \n

        The final licensing decision is issued within 40 business days<\/strong> from acceptance of the complete file.<\/p>\n<\/li>\n<\/ul>\n

        3. Practical example<\/h2>\n

        A Greek company that already operates a cryptocurrency exchange and wishes to expand into other EU Member States:<\/p>\n

          \n
        • \n

          requests a preliminary meeting with the HCMC,<\/p>\n<\/li>\n

        • \n

          submits a complete licensing file,<\/p>\n<\/li>\n

        • \n

          once licensed, can provide services across the EU through the \u201cEuropean passport\u201d<\/strong> mechanism.<\/p>\n<\/li>\n<\/ul>\n

          Thus, licensing serves not merely as a regulatory obligation, but as a passport for growth and cross-border expansion<\/strong>.<\/p>\n

          4. What should interested companies do?<\/h2>\n

          Businesses wishing to operate as CASPs in Greece are advised to:<\/p>\n

            \n
          1. \n

            Assess<\/strong> whether their services fall under MiCA, based on the Regulation and Law 5193\/2025.<\/p>\n<\/li>\n

          2. \n

            Prepare<\/strong> the required documentation (corporate structure, business plan, compliance mechanisms).<\/p>\n<\/li>\n

          3. \n

            Consider<\/strong> requesting a preliminary meeting with the HCMC to facilitate the process.<\/p>\n<\/li>\n

          4. \n

            Submit<\/strong> the licensing application following the instructions of Decision 8\/1059\/2025.<\/p>\n<\/li>\n

          5. \n

            Keep in mind<\/strong> the relevant deadlines (up to 40 business days for the final decision).<\/p>\n<\/li>\n<\/ol>\n

            5. Conclusion<\/h2>\n

            With the combined application of the MiCA Regulation<\/strong>, Law 5193\/2025<\/strong>, and HCMC Decision 8\/1059\/2025<\/strong>, Greece now has a comprehensive regulatory framework<\/strong> for the crypto-asset market. This framework:<\/p>\n

              \n
            • \n

              enhances legal certainty,<\/p>\n<\/li>\n

            • \n

              protects investors,<\/p>\n<\/li>\n

            • \n

              ensures compliance with European and national standards,<\/p>\n<\/li>\n

            • \n

              and grants CASPs access to the EU passport<\/strong>, enabling further growth and international outreach.<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

              Article originally published on Lawspot.gr in Greek. With Decision 8\/1059\/30.07.2025, the Hellenic Capital Market Commission (HCMC) established the procedure for submitting applications for the licensing of Crypto-Asset Service Providers (CASPs), in the context of implementing the Regulation (EU) 2023\/1114 (MiCA). 1. What is the applicable regulatory framework? 1.1. The European framework (MiCA Regulation) The MiCA […]<\/p>\n","protected":false},"author":4,"featured_media":1738,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[492,501,486,498,500,493,497,495,494,487,489,490,499,491,496,488],"class_list":["post-1743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en","tag-casp-licensing","tag-casps-en","tag-crypto-assets","tag-crypto-law-greece","tag-crypto-legal-framework","tag-crypto-licensing-greece","tag-crypto-passport-eu","tag-crypto-regulation-greece","tag-crypto-service-providers","tag-cryptocurrencies","tag-eu-2023-1114","tag-hellenic-capital-market-commission","tag-investor-protection-crypto","tag-law-5193-2025-greece","tag-mica-compliance","tag-mica-regulation"],"_links":{"self":[{"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/posts\/1743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/comments?post=1743"}],"version-history":[{"count":1,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/posts\/1743\/revisions"}],"predecessor-version":[{"id":1744,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/posts\/1743\/revisions\/1744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/media\/1738"}],"wp:attachment":[{"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/media?parent=1743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/categories?post=1743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgklegal.gr\/en\/wp-json\/wp\/v2\/tags?post=1743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}