EBA Proposes Standardized Penalty Framework for EU Crypto Rule Violations
By
@cointelegraph
Summary
The European Banking Authority (EBA) has proposed a new framework for penalizing cryptocurrency issuers that violate the EU's digital-asset laws under the MiCA regulatory framework. The consultation paper, published June 26, establishes a standardized approach for fining issuers of "significant" tokens, with potential multimillion-euro penalties. The framework uses a two-step process to determine fines, assessing baseline severity, and could impose penalties up to 12.5% of revenue for non-compliant issuers. This signals a tougher enforcement stance as the EU finalizes its comprehensive regulatory architecture for digital assets.
Source
bskyEBA Proposes Standardized Penalty Framework for EU Crypto Rule Violationscointelegraph.comKey quotes
· 3 pulledThe European Banking Authority on Friday unveiled a sweeping framework to penalize cryptocurrency issuers that violate the European Union's digital-asset laws, signaling a tougher enforcement stance as the trade bloc finalizes its historic regulatory architecture.
The consultation paper published June 26 establishes a standardized playbook for hitting non-compliant issuers of what the EBA considers 'significant' tokens with potentially multimillion-euro penalties.
Under the proposal, the Paris-based watchdog will deploy a strict two-step process to determine fines, assessing the baseline severity
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