European Banking Authority proposes up to 12.5% turnover fines for crypto token issuers under MiCA

The European Banking Authority (EBA) released a consultation paper on 26 June outlining a uniform penalty framework for breaches of the EU Markets in Crypto‑Assets (MiCA) regulation. Fines could reach up to 12.5 % of an issuer’s annual turnover for significant asset‑referenced tokens, up to 10 % for significant e‑money tokens, or twice the profits generated from the violation. The methodology uses a two‑step assessment of seriousness and then adjusts for aggravating or mitigating factors. The consultation remains open until 28 September, after which the EBA will finalise the approach.

The framework coincides with the 1 July 2026 deadline for crypto firms to obtain a MiCA licence to operate across the EU. Binance has already withdrawn its Greek licence application and is limiting services to EU customers, while licensed rivals such as Coinbase and OKX are promoting their authorised status and offering incentives to attract users.