ESMA Proposes MiCA Amendments to Clarify Crypto-Asset Regulation
What happened
On September 30, 2026, the European Securities and Markets Authority published its response to the European Commission's consultation on reviewing MiCA. ESMA proposes targeted amendments to clarify the regulatory perimeter, prevent supervisory divergences, and adapt MiCA to business models such as decentralized finance, staking, and crypto-asset lending. The review also considers coordination with the Market Integration and Supervisory Package.
From mondaq.com
Why it matters
The review addresses critical classification issues under MiCA, specifically the boundaries between crypto-assets, financial instruments subject to MiFID II, and different token types like asset-referenced tokens and e-money tokens. These proposals aim to streamline obligations and provide legal certainty across the European market.
ESMA and the European Central Bank are exploring tokenization within financial markets under EU regulatory mandates.
From mondaq.com
Who's involved
- European Securities and Markets AuthorityPublished a response to the European Commission's consultation on the review of MiCA.
- European CommissionIssued the consultation regarding the review of Regulation MiCA.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Deutsche BörseSpeculative
Could face increased compliance costs due to changes in the regulatory perimeter.
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The entities involved
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European Securities and Markets Authority
agency of the European Union
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European Commission
executive branch of the European Union
Related events
- The European Securities and Markets Authority (ESMA) serves as the financial markets regulator for the EU.
- ESMA will supervise cross-border stock exchanges after a meeting in Luxembourg, which Harris hailed as a step toward competitive Europe.
- Binance is seeking MiCA approval to operate in the EU, with ESMA as the ultimate authority, involving former CEO Changpeng Zhao and various national regulators.
- ESC programmes are financed by the EU Commission, with discussions involving a Commission representative in Luxembourg.