At the same time, the number of applications for FINMA licenses in Switzerland grew by almost one-third, and interest in registering cryptocurrency businesses in Europe reached a historical peak.
Today, the question is not simply about obtaining a cryptocurrency license in the EU or Switzerland but about a strategic choice of jurisdiction, which will determine scaling opportunities, access to investments, and business resilience in the ever-changing landscape of cryptocurrency regulation in Europe. How to ensure compliance, protect investors, optimize taxes, and not lose momentum in implementing innovative fintech solutions?
In this article, I will thoroughly analyze the key differences between the Swiss crypto license and MiCA, provide practical recommendations, and offer tools for strategic choice. If you want not just to comply with requirements but to use regulation as a growth driver – read to the end: here, you will find answers to the most pressing market questions.
Cryptocurrency Regulation: Switzerland and MiCA
Cryptocurrency regulation is becoming increasingly relevant against the backdrop of the rapid growth of the industry and new legislative initiatives. Switzerland and the European MiCA regulation offer different approaches: the first focuses on tax clarity and oversight by FINMA, and the second on comprehensive harmonization of rules for all participants in the crypto market. Next, we will consider how these mechanisms are embodied in the requirements for crypto businesses in Switzerland and EU countries.
Regulation of Crypto Business in Switzerland: FINMA and SRO
Switzerland is traditionally perceived as one of the most innovative and flexible jurisdictions for crypto businesses. Regulation here is built on the principle of “technological neutrality” and individual assessment of business models. Two institutions play a key role: FINMA (Swiss Financial Market Supervisory Authority) and SRO (Self-Regulatory Organization).
For most cryptocurrency companies, including exchanges, brokers, custodial services, STOs, and stablecoin projects, either direct Licensing by FINMA or membership in one of the SROs is required. For example, if a business is related to cryptocurrency exchange or storing digital assets for clients, a financial intermediary or bank license is needed, along with compliance with AML/KYC standards and internal controls.
It is important to note that the types of crypto licenses in Switzerland vary in the scope of allowed operations, capital requirements, and internal controls.
MiCA, Cryptocurrency Regulation in the EU
MiCA (Markets in Crypto-Assets Regulation): this is the world’s first comprehensive regulation that creates unified rules for cryptocurrency companies across all EU countries. Its implementation in 2024-2025 became a key event for cryptocurrency regulation in Europe.
MiCA sets clear standards for the licensing of cryptocurrency exchanges, custodial services, token issuers, and stablecoins, and introduces the concept of an EU passport (passporting), allowing services to be offered across the entire EU territory without the need to obtain separate licenses in each country. This opens up new possibilities for cross-border payments and business scaling.
The solution developed by COREDO for clients entering the EU market always includes a strategic assessment of MiCA compliance and an analysis of token, security token, and stablecoin regulation prospects.
Requirements for Obtaining a Crypto License in Switzerland
The requirements for obtaining a crypto license in Switzerland include a series of mandatory steps and formal conditions for companies planning to work with crypto assets. Even at the initial stage, it’s crucial to choose the correct legal form (AG or GmbH) and ensure compliance with the Swiss regulator FINMA’s requirements.
Registration of AG or GmbH and Application to FINMA
The process of registering a crypto business in Switzerland begins with creating a legal entity – most often this is an AG (joint-stock company) or GmbH (limited liability company). At this stage, it is important to properly structure corporate governance, determine the composition of shareholders, and appoint a compliance officer.
To apply to FINMA or SRO, a comprehensive package of documents is needed: a business plan for the crypto business detailing the business model, financial statements, proof of minimum capital, information about the beneficiaries, internal AML/KYC policies, due diligence procedures, and internal auditing.
AML/KYC Requirements in Switzerland
AML/KYC policy in Switzerland is built on a combination of national legislation and international FATF standards. Crypto companies are required to implement client identification procedures, transaction monitoring, internal controls, and regular audits.
COREDO’s experience shows that integrating automated KYC tools and building a multilayered internal control system allows not only to meet FINMA/SRO requirements but also significantly speeds up the licensing process.
Minimum Capital and License Cost
The minimum capital for a Crypto License in Switzerland depends on the type of license selected and the business model: for financial intermediaries – from 100,000 CHF, for banking and custodial services – from 300,000 to 10 million CHF. It is important to note that the funds must be placed in Swiss bank accounts and documented.
The cost of licensing is composed of state fees, SRO/FINMA services, and expenses for accompanying the process. In COREDO’s practice, there have been cases where optimizing the corporate structure AG/GmbH significantly reduced costs and expedited the procedure.
Thus, competent company structuring and correct document preparation can significantly simplify obtaining a license. Next, we will consider the main tax advantages for crypto businesses in Switzerland.
Tax Benefits for Crypto Businesses
Switzerland offers unique tax benefits for crypto businesses: low corporate tax rates, no capital gains tax for certain digital asset transactions, and flexible taxation regimes for innovative fintech solutions. Additionally, the developed infrastructure of banking and legal services and a favorable attitude toward the adoption of new blockchain technologies make this jurisdiction especially attractive for international projects.
MiCA Requirements for Cryptocurrency License in the EU
MiCA’s requirements for a cryptocurrency license in the EU have become the essential regulations for entering the European crypto asset market. For legal operation, providers and issuers of cryptocurrencies now need to comply with a complex set of standards ensuring transparency, stability, and customer protection.
MiCA Requirements and Licensing
Licensing of cryptocurrency exchanges and other crypto companies in the EU under MiCA begins with preparing a business plan, describing the business model, risk assessment, and developing internal policies for AML/KYC. Companies must confirm the availability of minimum capital (from 125,000 EUR for exchanges), appoint a compliance officer, and implement internal control and corporate governance procedures.
The solution prepared by the COREDO team for clients entering the EU market always includes a strategic assessment of MiCA compliance, analysis of prospects for token and digital asset regulation, and the preparation of documents for submission to national regulators or ESMA.
AML/KYC and Data Protection in Europe
MiCA requires strict adherence to FATF standards, implementation of comprehensive due diligence procedures, continuous transaction monitoring, and regular client checks.
The compliance officer becomes a key figure in the structure of a crypto company: responsible for implementing and controlling all AML/KYC procedures, interacting with regulators and auditors, as well as employee training.
Regulation of Stablecoins and Tokens under MiCA
MiCA introduces a clear classification of tokens: utility tokens, asset-referenced tokens, e-money tokens, and security tokens. Separate requirements are provided for the disclosure of information, investor protection, fund reservation, and internal controls for each type.
The COREDO team has delivered projects for STO and stablecoin licensing in the EU, enabling clients not only to meet new requirements but also to attract institutional investors through high transparency and asset protection levels.
Advantages of MiCA for Investors
One of MiCA’s key advantages is the opportunity for passporting, the provision of services in all EU countries based on a single license. This greatly simplifies crypto business scaling, reduces compliance costs, and opens access to new markets and investors.
Swiss Crypto License and MiCA: Differences
| Criterion | Switzerland (FINMA/SRO) | EU (MiCA) |
|---|---|---|
| Regulator | FINMA, SRO | National regulators, ESMA |
| Capital Requirements | From 100,000 CHF | From 125,000 EUR |
| AML/KYC | Strict, SRO/FINMA | Strict, MiCA/FATF |
| Licensing Timeline | 3-6 months | 6-12 months |
| Passporting | No | Yes |
| Tax Benefits | Yes, flexible | Depends on the country |
| Scaling | Flexible, but outside the EU | Easy within the EU |
| Innovation | High | Regulated |
| Advantages | Reputation, flexibility | Unified market, passporting |
| Risks | Cross-border restrictions | Strict regulation |
Registration of Crypto Business: Choice of Jurisdiction
Registration of a crypto business: choice of jurisdiction is one of the key stages for a successful start and further development in the digital asset industry. The choice of country affects licensing requirements, tax burden, and the company’s scaling opportunities. In the following sections, we will consider the registration features of crypto companies in popular jurisdictions like Switzerland and EU countries (MiCA).
Switzerland or EU (MiCA): How to Choose?
The choice between MiCA and the Swiss license depends on the business model, target markets, and investment goals of the company.
However, for scalable projects focused on the European market and cross-border payments, the advantages of MiCA and European passporting become crucial.
The COREDO team recommends conducting a strategic analysis of jurisdictions, considering the prospects of introducing new blockchain technologies, banking license requirements for crypto businesses, and long-term goals for attracting investments.
Risks and Prospects of Crypto Companies
The implementation of MiCA brings both new opportunities and risks for existing crypto companies.
For companies already licensed in Switzerland, transitioning to MiCA may require additional business model adaptation and internal policy adjustments.
COREDO’s experience shows that timely preparation for new requirements and the integration of international FATF standards can minimize reputational and operational risks, as well as increase ROI by optimizing expense structures and tax burdens.
Examples of Successful Licensing
Another case: preparing an STO platform for licensing under MiCA: a comprehensive due diligence program was implemented, an investor protection policy was developed, and compliance with new token and stablecoin regulation requirements was ensured. As a result, the client obtained a European financial services passport and entered new markets.
Practical Tips for Entrepreneurs
- Founding documents of AG/GmbH (for Switzerland) or a similar structure in the EU
- Business plan with a description of the business model, financial flows, and compliance strategy
- Internal AML/KYC policies, due diligence procedures, and internal controls
- Proof of minimum capital and its origin sources
- Appointment of a compliance officer and description of corporate governance
- Documents for application submission to FINMA/SRO or national EU regulator
– tips for choosing a jurisdiction:
- Evaluate target markets, expense structure, and scaling requirements
- Analyze tax regimes and optimization opportunities
- Consider the prospects for introducing new technologies and innovation requirements
- Explore the possibility of passporting for accessing EU markets
– Mistakes and pitfalls:
- Underestimating AML/KYC and internal control requirements
- Errors in corporate governance structure and appointment of responsible personnel
- Untimely adaptation of the business model to new MiCA requirements
- Ignoring tax specifics and cross-border restrictions
– How to ensure compliance and investor protection:
- Implement automated KYC/AML solutions
- Build a multilayered internal control and regular audit system
- Ensure corporate structure transparency and information disclosure for investors
- Organize employee training and constant monitoring of legislative changes
– Recommendations for choosing a consulting partner:
- Evaluate the team’s licensing experience in the chosen jurisdiction
- Check for successful cases and expertise in compliance, taxes, and corporate governance
- Ensure transparency of processes and comprehensive support at all stages
Crypto License Switzerland or MiCA, What to Choose?
The choice between MiCA and Swiss regulation: is a strategic decision that determines not only compliance with requirements but also growth potential, investment attractiveness, and business stability. For companies focused on innovation, flexibility, and tax optimization, Switzerland remains one of the best options. For scalable projects targeting the European market, passporting, and institutional investors, MiCA’s advantages become evident.
COREDO’s practice shows that the optimal result is achieved only through a comprehensive analysis of the business model, goals, and risks, as well as through competent support at all stages of registration and licensing. In the conditions of constantly changing cryptocurrency regulation in Europe, strategic analysis of jurisdictions and timely adaptation to new standards become key success factors for international crypto businesses.