ESMA · ESMA_QA_2932 Forwarded to EC/Public Consultation/Other

Transient exposure of EU client crypto-assets in a non-EU hot wallet during deposits, withdrawals and settlement

Regulation
MiCA
Article
MiCA Article 3(1), points (15) and (17); Articls 59; Article 70(1); Article 75(9); Commission Delegated Regulation (EU) 2025/303; ESMA Opinion on broker models paragraph 8 and footnote 10; ESMA Q&A 2608
Topic
Crypto-Asset Service Provider (CASP)
Submitted
2026-10-01
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Question

In the context of in/out transfers (deposits/withdrawals) from an EU authorised CASP, can assets from EU clients temporarily be held in a (hot) wallet at an entity not authorised as a CASP under MiCA? Under what conditions, if any, would the temporary presence of EU client crypto-assets in that wallet be considered a purely technical/transient transfer step rather than custody, administration or transfer services being provided by the non-authorised entity?
No answer published yet.
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This Q&A is published by European Securities and Markets Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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