Central Bank of Ireland outlines CASP supervisory priorities with new authorisations portal and quarterly return

In remarks at a Crypto-Asset Service Provider industry briefing, the Central Bank of Ireland set out its expectations as the sector moves from MiCAR authorisation into ongoing supervision. The Bank said its approach will remain risk-based, proportionate and outcomes-focused, with particular emphasis on consumer protection, governance, operational resilience, safeguarding client assets, and anti-money laundering and counter-terrorist financing. It also reiterated its scepticism toward business models driven by heavy marketing and distribution of unbacked crypto to retail customers for speculative purposes. Drawing on its authorisation experience with a first significant cohort of firms in 2025, the Bank said firms progressed more smoothly where they had a clear MiCAR-aligned business model, realistic resourcing and strong preparation, including around documentation, capital and operating arrangements. It highlighted the importance of EU-wide convergence in authorisation and supervision through work with the European Supervisory Authorities, including ESMA. For supervised CASPs, the Bank identified this year's main supervisory priorities as operational resilience, treatment of customers, custody of crypto assets, anti-money laundering controls, and market abuse, including cooperation with ESMA on pan-European surveillance of crypto activity. To support the next phase, the Bank said it will establish a new authorisations portal for CASP applicants in the coming weeks to streamline submissions and communication. It also said a new quarterly CASP regulatory return will be launched in Q1 to give supervisors a detailed view of each firm's financial position and support ongoing supervisory engagement.