EU Banking Authority Proposes Framework for Fines on Crypto Issuers Under New Digital Asset Laws
By
Tyler Durden
Summary
The European Banking Authority (EBA) has published a consultation paper proposing a standardized framework for penalizing cryptocurrency issuers that violate the EU's digital-asset laws (MiCA). The framework targets issuers of "significant tokens" and establishes a two-step penalty process that could strip non-compliant firms of up to 12.5% of their annual revenue. This signals a tougher enforcement stance as the EU finalizes its landmark regulatory architecture for digital assets.
Source
Twitter / XEU Banking Authority Proposes Framework for Fines on Crypto Issuers Under New Digital Asset Lawszerohedge.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...
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