Overview

Index page for MiCA Q&A subcategory pages.

Submitted MiCAR Q&As that are either still under review by the EBA/ESMA/European Commission or that have been rejected by the answering body. The Q&A text and the rationale (for rejections) are preserved here for reference even though no official answer is published.

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Under Review

ID	Question	Article	Submitted
2024_7066	Are ART reserve liabilities secured, and therefore excluded from bail-in in resolution?	36(2)	26 Apr 2024
2024_7068	Can technically identical EMTs be issued in parallel by EU and non-EU entities?	48, 49, 54, 56	29 Apr 2024
2024_7069	What is the scope of Recital 54 and Article 54 of MiCAR regarding 'significant' ARTs and EMTs?	54, Recital 54	29 Apr 2024
2025_7457	Does PSD2 apply to the issuance and redemption of EMTs under MiCAR?	49	15 May 2025

Rejected

ID	Question	Article	Rejected
2024_7067	How can the MiCAR authority access prudential information for assessing ART/EMT recovery plans?	46, 47, 55	15 Nov 2024
2024_7210	What own funds must ART issuers exempt from authorisation under Article 16(2) hold?	35(1)	21 Nov 2024
2024_7114	Are tokens backed by gold classified as asset-referenced tokens?	3(1)(6)	21 Mar 2025
2024_7027	Can a CASP receive, transmit or execute orders for non-EUR EMTs from non-MiCA-compliant issuers?	48(1)	24 Jul 2025
2025_7591	Must banks maintain a segregated account to safeguard proceeds from EMT issuance?	54, 58	11 Nov 2025
2026_7834	How are own funds determined for an entity with simultaneous CASP, EMI and investment firm authorisations?	67	29 May 2026

Related

• investment firm — defined term used on this page
• investment firm — defined term used on this page
• investment firm — defined term used on this page
• investment firm — defined term used on this page
• funds — defined term used on this page
• funds — defined term used on this page
• funds — defined term used on this page