EBA Sets Out Priorities for MiCA Review
On September 24 the European Banking Authority responded to the Commission's targeted MiCA review consultation. It recommends stronger controls for certain third-country multi-issuer stablecoin schemes, clearer crypto-asset classification and consideration of rules for crypto-asset lending, including access to decentralised lending protocols. These are recommendations, not enacted changes.
PARADIGM INSIGHTS:
The boundary between MiCA and other financial-services rules remains a live classification problem. Firms designing tokenized products should document which rules they believe apply and why; the EBA response itself does not create a new dispute forum or enforcement mechanism.
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