We prepared a detailed legal memo analyzing the offering of a product through a newly established Cyprus company (CyCo), which intends to operate under the Markets in Crypto-Assets Regulation (MiCAR). Our analysis assessed the compatibility of the product with MiCAR’s licensing and operational requirements, focusing on whether the activities of the CyCo complied with its obligations as a regulated crypto-asset service provider. Additionally, we explored alternative structuring options to align the client’s business model with applicable EU and Cypriot legal frameworks.