The European Banking Authority (EBA) has published a consultation paper proposing a methodology for calculating fines imposed on issuers of significant crypto-assets under the Markets in Crypto-Assets Regulation (MiCA). The draft methodology, released on 26 June 2026, aims to ensure that fines are consistent, proportionate, and transparent, supporting effective compliance with the regulatory framework.
The consultation applies to issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) classified as significant, for which the EBA acts as direct supervisor under MiCA. The methodology covers cases where an issuer or a member of its management body has negligently or intentionally committed an infringement. The EBA seeks to provide a clear and consistent enforcement approach, enhancing transparency and accountability in supervisory decisions.
Stakeholders can submit comments until 28 September 2026. A virtual public hearing will be held on 16 July 2026 from 14:30 CEST; registration closes on 13 July. The EBA will publish all comments received unless confidentiality is requested.
The legal basis is Article 134(1) of MiCA, which empowers the EBA to impose fines and periodic penalty payments when it identifies clear grounds of infringement.
For issuers of significant tokens, the methodology introduces predictability in potential penalties, reducing legal uncertainty but also imposing clearer compliance costs. The EBA gains a structured enforcement tool, strengthening its supervisory credibility. National competent authorities may see a precedent for their own fine-setting approaches under MiCA. Crypto-asset users benefit from enhanced deterrence of misconduct, though fines could ultimately be passed on through higher costs.