In short:

After the entry into force of the MiCA regulation, users in the European Union have a clearer framework to verify if a crypto platform is authorized to offer services in the European market.

In the past, verification was difficult as each member state applied its own rules. Today, information is more accessible, and investors can consult public registers and official sources before using a platform.

If you intend to buy, sell, or hold cryptocurrencies on a centralized platform, checking authorization should be one of the first steps you take.

Why does it matter if a platform is authorized?

An CASP (Crypto-Asset Service Provider) authorized in the European Union must comply with a series of requirements regarding user protection, transparency, and risk management.

Authorization does not guarantee that an investment will be profitable and does not eliminate the risks associated with cryptocurrencies. However, it provides an additional level of oversight and responsibility from the company providing the services.

Among the benefits of using an authorized platform are:

• compliance with clear compliance rules
• security procedures and risk control
• transparency obligations towards users
• supervision by a competent authority

Additionally, authorized platforms must comply with obligations regarding KYC and AML procedures, aimed at reducing fraud and money laundering risks.

Authorized platforms also have tax reporting obligations under DAC8 — meaning that information about your transactions may reach the tax authorities in Europe.

Step 1 — Check the ESMA register

The first place you should check a platform is the public register managed by ESMA (European Securities and Markets Authority).

ESMA coordinates the application of the MiCA regulation at the European level and publishes information on entities that can operate under the new rules.

For verification:

1. Visit esma.europa.eu
2. Look for the section dedicated to the MiCA regulation
3. Identify the relevant public register
4. Search for the name of the platform you wish to verify

If the platform appears in the register, you can check the jurisdiction in which it is authorized and relevant information about the company.

It is important to note that a platform authorized in an EU member state can offer services in other member states through the “European passport” mechanism. This means that a company does not need to obtain a separate authorization for each country in the European Union.

Step 2 — Check Warnings from National Financial Authorities

In addition to checking the ESMA register, it is also worth reviewing warnings issued by your country’s financial regulator.

National financial authorities across the European Union regularly publish alerts about unauthorized firms, investment scams, and entities providing financial services without the required authorization.

If a crypto platform appears on one of these warning lists, you should investigate further before depositing funds or sharing personal information.

Step 3 — Check the information published by the company

A platform operating legally and transparently will usually publish information about the company providing the services, the jurisdiction in which it is authorized, and the authority supervising it.

These details are usually found in:

• the “About Us” page
• Terms and Conditions
• Compliance Policy
• the footer of the website

Ideally, you should be able to identify:

• the full name of the company
• the country in which it is registered
• the authority supervising it
• information about the license or authorization

If these details are completely missing or hard to find, it is worth treating the situation with caution.

Examples of platforms and authorization check

What does it mean if a platform does not appear in the ESMA register?

A platform not appearing in the ESMA register is not automatically illegal. There are several possible explanations:

• The platform operates from outside the European Union and has not applied for authorization in the EU.
• The authorization process is ongoing, and the information has not yet been updated.
• The services offered do not fall under the scope of MiCA, as can happen with certain DeFi applications or non-custodial services.
• The platform does not comply with applicable regulations, in which case users should exercise caution.

For this reason, it is important to analyze the context and consult multiple sources before making a decision.

Red flags

Regardless of the authorization status, there are some signs that should make you cautious when choosing a crypto platform:

• promises of guaranteed profits
• unusually high returns without clear explanations
• lack of information about the company and team
• difficulties in withdrawing funds
• pressure to invest quickly
• absence of identity verification procedures (KYC)

The presence of one of these elements does not automatically mean the platform is fraudulent, but it represents additional reasons for more careful checks.

Frequently Asked Questions

Where can I find the official register of authorized crypto platforms in the EU?

On the ESMA website, in the section dedicated to the MiCA regulation. The register is public and can be accessed for free.

Can a platform authorized in an EU member state operate in Romania?

Yes. Through the European passport mechanism, a platform authorized in a member state can offer services throughout the European Union.

What should I do if a platform does not appear in the ESMA register?

Check the information published by the company, consult warnings from your national authorities, and try to identify the jurisdiction in which the platform operates.

Is Abarai authorized?

Abarai operates as a non-custodial platform. Transactions are processed through authorized CASP partners in accordance with MiCA regulations. For more details, you can consult the About Us page.

Conclusion

Checking the authorization of a crypto platform takes only a few minutes and should be one of the first steps before transferring funds.

The first step should always be consulting the ESMA register, followed by checking the warnings published by your national authorities.

As the MiCA regulation continues to be implemented at the European level, the verification process becomes simpler and more transparent for users.