Application processing timelines

Under MiCAR, the consideration period for a licence application for an issuer of asset-referenced tokens is 110 working days after the application is complete.

It is likely that the full licence application process will take longer than 110 working days. This is because the consideration period does not start until the application is complete. DNB may also suspend the consideration period if information is missing, or if your application prompts additional questions. We will then ask you to supply the additional information and re-start consideration of your application once we have received it. If you do not supplement your application on request, or not sufficiently so, we may decide to suspend consideration of your application within four weeks.

Quality

The time we need to process your application greatly depends on its quality and completeness, and the supplementary information that you provide. If for any reason we are unable to come to a decision before the set deadline, we will inform you accordingly. Generally speaking, we can say that the better the quality standard of your application when submitted (both on content and completeness), the quicker we can process it.

Contact

If you are considering submitting an application for a licence, please contact our Expert Centre on Market Access to announce your application and inquire after the expected processing time.