Under Article 131 of MiCA the EBA may impose fines on issuers of significant asset-referenced tokens (s-ARTs) and significant e-money tokens (s-EMTs). MiCA sets the maximum amounts for fines, but the precise amount imposed will be decided case-by-case. As such the EBA is developing a methodology to provide a consistent and transparent approach to imposing sanctions on issuers of s-ARTs and s-EMTs. The draft methodology in the consultation paper consists of two steps – establishing a basic amount for the sanction; and adjusting that amount based on the aggravating and mitigating factors of the individual case. The EBA may further adjust the resulting amount where necessary to reflect its supervisory and consumer protection objectives, subject to the maximum limits set by MiCA.
Next steps
The deadline for comments on the consultation paper is 28 September 2026.
The EBA will hold a virtual public hearing on 16 of July from 14.30 CEST. The EBA invites interested stakeholders to register by 13 of July, 16.00 (CEST). The dial-in details will be communicated to those who have registered for the meeting.