There are a number of common legal conditions in these definitions that, when met, require a CASP registration/authorisation: must be (a) a person, (b) with a (commercial) activity, and (c) providing certain services to customers/third-parties.
The "crypto-asset services" that will be subject to regulation include:

- Custody and administration of crypto-assets for third parties
- Operation of a trading platform for crypto-assets
- Exchange of crypto-assets for funds or other crypto-assets
- Execution of orders for crypto-assets for clients
- Placement of crypto-assets
- Reception and transmission of orders for crypto-assets for clients
- Provision of advice on crypto-assets
- Portfolio management on crypto-assets
- Transfer services for crypto-assets for clients

These Crypto-Asset Service Providers (CASPs) will be required to meet authorisation requirements, general prudential requirements, business conduct rules, and governance requirements. Additional requirements will apply depending on the specific crypto-asset services provided, such as custody and administration of crypto-assets and operation of a trading platform. Certain regulated entities, such as banks, investment firms, e-money institutions, and AIFM, may be permitted to provide crypto-asset services without obtaining authorisation as a CASP under the MiCA Regulation, subject to certain conditions.