Norway – MiCAR Fully Implemented – Transitional Period Prolonged

The Norwegian law implementing the Markets in Crypto Assets Regulation (MiCAR) entered into effect in Norway 1 July 2025, with a transitional period for existing VASPs registered under the Norwegian AML Act until 31 December 2025 to obtain a CASP license.

Due to the EEA Agreement, neither MiCAR nor its delegated regulations have direct effect in Norway. They must be transposed into Norwegian law through a separate legal instrument. 

On 16 December 2025, the Financial Supervisory Authority of Norway (FSAN) adopted regulations transposing the MiCAR delegated regulations (through a regulation under the Norwegian crypto assets act). This means that the full set of current EU MiCA rules now apply in Norway.

MiCAR has spawned a very extensive set of delegated rules. On a somewhat related note, the FSAN today chose to extend the transitional period until 30 June 2026 (or until a license application has been rejected).