MiCA Regulation Allows Offshore Structures to Operate in the EU
- Bybit’s global parent is incorporated in the British Virgin Islands, yet its Austrian subsidiary holds a MiCA license.
- OKX operates from Seychelles, with its Maltese subsidiary authorized by the Malta Financial Services Authority.
- 62% of token issuers registered with ESMA are domiciled outside the EU or EEA, including entities from BVI and Cayman Islands.
- Ireland and Malta are preferred jurisdictions for offshore entities filing white papers, with Ireland receiving notifications from over half of offshore issuers.
The Markets in Crypto-Assets Regulation (MiCA) allows crypto-asset service providers (CASPs) to operate within the EU provided they have a registered office in a Member State, but does not require their parent companies to be based within the EU. Token issuers can file white papers without EU incorporation, as demonstrated by numerous offshore entities choosing Ireland and Malta for compliance filings.
Despite initial misconceptions, MiCA’s framework accommodates offshore parent structures while ensuring that entities serving EU clients maintain genuine presence and accountability within the Union. (Source)
