EBA publishes a consultation paper proposing a harmonised, risk-based approach to setting MiCA fines, aimed at ensuring consistent, proportionate and effective enforcement of crypto-asset breaches 

The consultation paper sets out a draft methodology for calculating fines under MiCA, aiming to ensure that penalties for issuers of significant asset-referenced tokens and e-money tokens are consistent, proportionate and transparent. While not an AML/CFT measure in itself, the proposal is relevant to financial crime oversight because robust enforcement against major crypto-asset issuers can reinforce governance, compliance discipline and supervisory credibility in a sector exposed to illicit finance risks…