Financial Regulation
EU Proposes Fine Methodology for Crypto Firms
The European Banking Authority (EBA) has launched a public consultation on how it will calculate fines for crypto-asset service providers under the new Markets in Crypto-Assets Regulation (MiCA). The proposed methodology aims to ensure penalties are fair, proportionate, and a sufficient deterrent against misconduct. This is a key step in implementing the EU's landmark crypto framework, which seeks to protect consumers and ensure financial stability. Stakeholders are invited to provide feedback on the draft rules before they are finalised.
The EU is setting the rules for how it will penalise rule-breaking crypto-asset companies.