MiCA Masters: Inside a CASP Compliance Journey

In this episode of MiCA Masters, host Delphine Forma, Head of Policy Europe at Solidus Labs, welcomes Jani Ultamo, Chief Compliance Officer at Coinmotion, one of Europe’s oldest crypto firms and among the first to receive a MiCA license from the Finnish FSA.

Jani brings a unique lens to the conversation, blending over a decade of experience in traditional finance with his deep dive into crypto compliance. From writing his master’s thesis on the Travel Rule to leading Coinmotion’s CASP application, he unpacks the complex realities of operating a licensed crypto business in the EU today.

🧠 Topics covered:

• Coinmotion’s licensing journey: from payment institution to MiCA CASP
  
  
• Travel Rule roadblocks: fragmentation, interoperability, and realistic workarounds
  
  
• Why Finland required DORA compliance at the time of application
• Market abuse detection strategies for non-order book platforms
  
  
• AML verification differences in Finland (hint: e-banking IDs)
  
  
• The case for equivalence regimes and regulatory competitiveness in the EU vs US
  
  

💡 Jani also shares his view on Europe’s regulatory “legal craziness,” how crypto-native services cross borders differently than legacy finance, and his surprisingly forward-thinking take on digital fashion in remote work culture.