The European Banking Authority has launched a consultation on a draft methodology for setting fines under the Markets in Crypto-Assets Regulation for issuers of significant asset-referenced tokens and significant e-money tokens that it supervises. The proposal is intended to make enforcement more consistent, proportionate and transparent when an issuer or a member of its management body has negligently or intentionally committed a MiCA infringement. It is designed for the EBA’s own supervisory role and does not apply to national competent authorities’ enforcement procedures. The draft methodology uses a two-step approach. First, it sets a basic fine as a percentage of the issuer’s annual turnover in the preceding business year, using three severity bands of 5 percent, 3 percent and 2 percent for different categories of MiCA infringements, with providing incorrect or misleading information to the EBA placed in the lowest band. Second, it adjusts that amount through cumulative aggravating and mitigating factors. Aggravating factors include conduct lasting more than six months, repeated breaches, financial crime linked to the infringement, serious organisational weaknesses, intentional misconduct and previous infringements. Mitigating factors include reasonable preventive measures by senior management, quickly and fully bringing the breach to the EBA’s attention, and voluntary steps to prevent recurrence. The EBA may then further adjust the result where needed for proportionality and deterrence, subject to MiCA’s statutory caps of 12.5 percent of annual turnover for significant asset-referenced token issuers and 10 percent for significant e-money token issuers, or twice the profits gained or losses avoided where those can be determined. Comments are open until 28 September 2026, and the EBA plans to finalise and publish the methodology after the three-month consultation period. A virtual public hearing is scheduled for 16 July 2026.
European Banking Authority2026-06-26
European Banking Authority consults on MiCA fines methodology for significant token issuers
The European Banking Authority is consulting on a draft MiCA methodology for fines imposed on issuers of significant asset-referenced tokens and significant e-money tokens that it supervises. The proposal sets a two-step process with starting bands of 5 percent, 3 percent or 2 percent of annual turnover, then adjusts for aggravating and mitigating factors. Final fines would remain subject to MiCA caps, including 12.5 percent of turnover for significant asset-referenced token issuers and 10 percent for significant e-money token issuers.