ESMA_QA_2320
01/11/2024
Subject Matter
Clarification on Withdrawal Requirements under Article 75 of MiCA for CASPs
Original question
I seek clarification regarding the obligations of Crypto-Asset Service Providers (CASPs) under Article 75 of the Markets in Crypto-Assets Regulation (MiCA) concerning the ability for customers to withdraw specific crypto assets. Specifically, does Article 75 require CASPs to enable customers to withdraw every cryptocurrency offered for trading on the platform? For example, if a cryptocurrency exchange allows customers to trade Dogecoin but faces technical limitations in facilitating direct Dogecoin withdrawals, would it suffice to offer a conversion option, allowing customers to exchange Dogecoin for Bitcoin, Ethereum, or fiat currency, which they can then withdraw?
Status: Forwarded to EC/Public Consultation/Other
Additional Information
Level 1 Regulation
MiCA
Additional Legal Reference
Article 75 MiCA
Topic
Crypto-Asset Service Provider (CASP)