MiCA Licensing: How to obtain MiCA licence. DIY does it worth?

Описание: How to Obtain a MiCA Licence - DIY Does It Worth?
Hello, I'm Petr Uklein, founder of ModerniPravnik.cz. Today, I want to answer a critical question: Should you attempt MiCA licensing alone, or work with expert counsel?

Questions? Comments below. Book your free consultation NOW.
Mgr. Petr Uklein
CEO & Founder, ModerniPravnik.cz
Specialising in MiCA Licensing, Crypto-Asset Compliance & Digital Finance Regulation
🔗 https://modernipravnik.cz
📧 [email protected]
📱 +420 732 394 849

The Legal Reality
Since December 30, 2024, any crypto business in the EU—whether you exchange, trade, or hold client crypto-assets—requires a MiCA licence. This is binding law, not optional guidance. Operating without it means criminal prosecution, asset seizure, and immediate shutdown.

In the Czech Republic, the Czech National Bank (CNB) is the sole authority issuing CASP (Crypto-Asset Service Provider) licences. There's no grey area here.

Why DIY Fails (And It's Expensive)
Most entrepreneurs attempt this alone. Here's what happens:
Problem 1: Rejected Applications
The MiCA text is 100+ pages. Delegated regulations add 300+ more. The Czech law adds another 50+. Missing even one compliance procedure triggers regulatory rejection and a 6-month delay before resubmission. We've seen applications rejected for vague custody policies, inadequate AML procedures, or unrealistic financial projections.
Problem 2: Costly Redesigns
You might design what you think is a Class 1 service (€50,000 capital requirement), only to discover midway through that it's actually Class 2 (€125,000). Your "non-custodial wallet" may inadvertently constitute custody. These redesigns cost €20,000–€50,000 in rework and 2–3 months of delay.
Problem 3: Unwritten Expectations
Regulators expect things not written in the regulation. We know this because we've submitted 11 applications and received their feedback repeatedly. General counsel simply cannot know these unwritten expectations.
Problem 4: Operational Complexity
Building compliant systems requires AML transaction monitoring software, Travel Rule procedures for exchanges, multi-signature custody wallets, and quarterly client reporting. Getting this wrong post-approval leads to regulatory warnings or licence suspension.
DIY Cost
Rejected application: 6-month delay
Lost revenue: €500,000–€2,000,000
Rework costs: €50,000–€100,000
Your staff time: €100,000–€300,000
Total: €650,000–€2.4 million
Approach: 4 Months to Licence
We operate as your legal partner.

The Process we guide you through (min. 1 month)
Weeks 1–2: Strategic planning (what services? which assets? custody or not?)
Weeks 3–8: Collaborative documentation on a shared Google Drive with weekly update calls
Week 9: Submission to CNB
Weeks 10–12: ČNB review
Weeks 13–16: assessment and dialogue

We prepare 13 core documents: application form, programme of operations, financial projections, capital requirements, governance documentation, AML compliance manual, ICT security specifications, GDPR policy, whistleblowing policy, complaints procedure, risk management framework, and custodial/exchange policies.

Our legal team reviews everything for regulatory compliance, internal consistency etc.

This Works
Completeness on first submission – ČNB usually ask for at least 1 explanatory letter to be replyed in 5 working days.

Time efficiency – 2–6 months with us vs. 8–12 months alone. You save 2–5 months of operational delay.
Risk mitigation – We identify and fix problems before submission, not after rejection.

The ROI
Working with us costs €20,000–€60,000. You get:

First-time approval in 4 months
Early market entry (early-mover advantage in regulated crypto)
€500,000–€2,000,000 in earlier revenue
Post-licence support and ongoing regulatory counsel
Net outcome: You save €800,000+ and 4 months

Expert counsel is not a cost—it's a 10:1 return investment.
Fewer than 100 CASPs are licensed across the entire EU. A CNB licence is your competitive moat—it signals "professional, regulated, trustworthy." It grants you passporting rights to serve 30+ countries. Unregulated competitors will eventually be forced offline.

The window for early-mover advantage is closing. In six months, hundreds of applications will be pending. Timelines will stretch. Costs will rise.

The next Step: Free Consultation
We offer a confidential one-on-one consultation where we:
1. Understand your business model and timeline
2. Assess your readiness for licensing (honest feedback)
3. Outline which documents you need and why
4. Provide a detailed project plan and cost estimate
This is completely free. No obligation.

Comment: Questions, What services do you plan to offer? What's your timeline? Any regulatory concerns?
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