Crypto market makers
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Regulation & Compliance

01
MiCA

What is the Markets in Crypto-Assets Regulation (MiCA)?

MiCA creates a single regulatory framework for crypto businesses operating across the European Economic Area, covering authorisation, transparency, consumer protection and market integrity. Since 1 July 2026, firms providing crypto asset services to EEA clients must hold the required CASP authorisation.

FAQ:

MiCA (Markets in Crypto-Assets Regulation, Regulation (EU) 2023/1114) is the EU’s unified framework regulating crypto-assets and the firms that provide crypto-asset services. It sets uniform standards for authorisation, governance, capital, conduct, and consumer protection across all EU/EEA member states, and has been in full effect for service providers since 30 December 2024.

Any firm providing crypto-asset services to clients in the EU/EEA — exchanges, brokers, custodians, market makers, and advisers. Since 1 July 2026, firms without a MiCA (CASP) authorisation can no longer legally serve EU clients, so it affects both providers and the clients who rely on them being authorised.

The authoritative, current list is published on the official ESMA register, which is updated regularly. Additionally, we wrote about which exchanges hold a MiCA licence in our blog post.

Yes. Orcabay finančne storitve d.o.o. is authorised as a Crypto-Asset Service Provider under MiCA, supervised by Slovenia’s ATVP, and listed on the official ESMA register.

Execution of orders for crypto-assets, and advice on crypto-assets.

The Securities Market Agency (ATVP) in Slovenia, the national competent authority for CASPs.

Yes — a MiCA CASP authorised in one EU/EEA state can passport its authorised services across all 27 EU member states plus Norway, Iceland, and Liechtenstein.

No. Orcabay operates non-custodially, trading under API permissions with no custody or withdrawal rights.

02
Licensing

Orcabay MiCA License

We are proud that Orcabay is one of only 280 authorised crypto asset service providers in the EU, and one of the few market makers to have secured MiCA authorisation.
Legal entityOrcabay finančne storitve d.o.o.
LEI485100OLL2HA92JDWC71
Registered addressStegne 21C, 1000 Ljubljana, Slovenia
Home member stateSlovenia
Competent authoritySecurities Market Agency — ATVP (Agencija za trg vrednostnih papirjev)
Authorisation date10 November 2025
Licensed servicesExecution of orders for crypto-assets; Advice on crypto-assets
VerifyOfficial ESMA register
03
What it means
for clients

Working with a MiCA Licensed Market Maker

Working with a MiCA licensed market maker like Orcabay offers a clear legal counterparty, ongoing regulatory oversight by the Securities Market Agency, ATVP, and defined standards for governance, conduct and transparency. It also reduces compliance and reputational risk, while making due diligence and institutional onboarding easier.
  • A supervised counterparty
  • EU-wide passporting
  • Defined conduct and governance standards
  • Independent verifiability
04
Scope

Scope of authorisation

The MiCA Regulation defines the crypto asset services that require CASP authorisation under Article 3(1)(16). Businesses providing any of these services in the EU must obtain the relevant CASP authorisation.
Orcabay’s CASP authorisation covers the execution of orders for crypto-assets and advice on crypto-assets.

Market making is delivered within this authorised scope and through a non-custodial operating model: Orcabay trades under API permissions and never takes custody of client assets or holds withdrawal rights.