EBA Sets Priorities for Reviewing EU Crypto Regulation Framework

The European Banking Authority (EBA) has set its priorities for reviewing the MiCA framework, which regulates crypto-assets in the EU. The regulator wants to focus on token issuance risks, legal classification, and reporting requirements to support supervision and market competitiveness.

The EBA recommends amending the MiCA framework regarding third-country multi-issuer schemes, which pose significant risks. It also suggests reviewing reserve requirements due to elevated risk levels.

The authority highlights persistent classification uncertainties under MiCA, citing increased costs, product launch delays, and weakened EU market competitiveness as consequences.