> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/eu-level/soft-law/supervisory-priorities-2026-art-emt-issuers.md). # EBA Priorities 2026 — ART/EMT Issuers | | | | --------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Authority** | EBA | | **Legal basis** | EBA supervisory mandate — [Article 117](/mica/title-vii-competent-authorities-eba-and-esma-art.-93-138/chapter-4/article-117.md), [Article 118](/mica/title-vii-competent-authorities-eba-and-esma-art.-93-138/chapter-4/article-118.md) and [Article 119](/mica/title-vii-competent-authorities-eba-and-esma-art.-93-138/chapter-4/article-119.md) MiCA | | **Addressees** | Competent authorities; ART/EMT issuers under EBA direct supervision | | **Status** | In force | | **Source** | [EBA](https://www.eba.europa.eu/activities/direct-supervision-and-oversight/ebas-supervisory-role-under-mica) | **EBA supervisory priorities 2026 for ART and EMT issuers — Crypto-Asset Standing Committee** · [EBA](https://www.eba.europa.eu/activities/direct-supervision-and-oversight/ebas-supervisory-role-under-mica) ## Overview Each year the EBA's Crypto-Asset Standing Committee (CASC) agrees the supervisory priorities for ART and EMT issuers under the EBA's direct-supervision mandate. The 2026 priorities steer the EBA's on-site and off-site activities for significant issuers and inform joint supervisory work with competent authorities. ## Key points * Continued focus on internal governance and risk-management frameworks at issuers. * Financial resilience: own funds adequacy and the composition, custody and stress-resilience of the reserve of assets. * Technology risk management and ICT security, including operational-resilience and outsourcing arrangements. * Financial-crime risk management (AML/CFT) and related controls. * On-site and off-site supervisory activities planned for specific issuers under EBA direct supervision. * Day-to-day off-site monitoring of compliance using quarterly and daily reporting from issuers and CASPs. * Coordination through supervisory colleges to ensure consistency across the relevant authorities. ## Full document Details are published on the [EBA supervisory role under MiCA page](https://www.eba.europa.eu/activities/direct-supervision-and-oversight/ebas-supervisory-role-under-mica). ## Document body (verbatim) The EBA's supervisory role under MiCA Under the EU Markets in Crypto-Assets Regulation (MiCA, Regulation 2023/1114), the European Banking Authority (EBA) regularly assesses issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs) to determine whether they meet the criteria for “significance”. When an ART or EMT is classified as significant, the EBA assumes direct supervisory responsibilities and tasks. Specific additional requirements apply to significant ARTs and EMTs to address the greater risks they may pose. The Crypto Asset Standing Committee (CASC) supports the EBA in line with its MiCA mandate. ### How significance is assessed An ART or EMT is deemed significant if at least three of the following criteria are met: MiCA establishes specific thresholds for the three quantitative criteria and Commission Delegated [Regulation (EU) 2024/1506](/eu-level/technical-standards/rts/delegated-regulation-on-significance-criteria-for-arts-emts.md) ( link ) specifies the indicators to be considered for the two qualitative criteria. ### What happens when an ART or EMT is classified as significant? Significant ARTs : the EBA takes over direct supervision of issuers at the EU level from the home competent authority (CA). Significant EMTs (issued by electronic money institutions) : the EBA and the CA supervise jointly, with the EBA supervising the compliance by the issuer with the additional requirements to significant EMTs, mainly on liquidity and own funds. Supervisory colleges : for each issuer of significant ART and EMT, the EBA establishes, manages and chairs a supervisory college. Supervisory colleges facilitate the cooperation and exchange of information among their members and issue non-binding opinions on specific matters set out in MiCA. The EBA works closely with the other relevant CAs to ensure coordinated and consistent supervision. ### Process overview ### The EBA supervisory responsibilities and tasks ### The EBA’s supervisory focus areas Each year the CASC agrees on priority areas for supervision of ARTs and EMTs. For 2026, the focus is on: ### The EBA’s ongoing supervisory activities Onsite-offsite supervisory activities are planned every year on specific issuers under the EBA supervision. Off-site supervision refers to ongoing supervisory activities (day-to-day supervision), mainly conducted at the EBA’s premises. It is oriented to proactively identify supervised entities that might not be in compliance with the applicable requirements. It also feeds into the risk analysis of the supervised entities for future supervisory actions. On-site supervision refers to on-site inspections at issuers’ business premises. This complements off-site supervision and targets specific items or risk areas in depth. ### Data reporting obligations by issuers and crypto asset service providers under MiCA Without affecting the EBA’s ability to request any information it needs to carry out its supervisory tasks, [Article 22](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-22.md) of MiCA sets out default reporting obligations, under certain conditions, for issuers and crypto-assets service providers. These obligations support risk monitoring related to issuance activity, the assessment of whether an ART or EMT is significant, and their coordinated supervision. Harmonised templates and instructions are set out in the Commission Implementing [Regulation (EU) 2024/2902](/eu-level/technical-standards/its/implementing-technical-standards-on-the-reporting-on-arts-and-emts-denominated-in-a-non-eu-currency.md) and the EBA Guidelines [EBA/GL/2024/16](/eu-level/guidelines/guidelines-on-reporting-templates-supervisory-duties.md) . Specific details on relevant methodologies to be used for transactions associated with uses of the tokens as a means of exchange are included in the Commission Delegated Regulation (EU) 2025/298. These reporting obligations follow fixed quarterly reference and remittance dates. Crypto-asset service providers (CASPs) are required to submit relevant data to issuers and issuers are required to submit their reports directly to the EBA through its shared technical platform. Data are then made available to the relevant CAs, according to their tasks under MiCA. ### Quarterly reporting and remittance dates for CASPs and issuers | Reporting Quarter | Reference Date | Remittance date CASP | Remittance date issuer | | ----------------- | -------------- | -------------------- | ---------------------- | | Q1 (Jan-Mar) | 31 March | 21 April | 12 May | | Q2 (Apr-Jun) | 30 June | 21 July | 11 August | | Q3 (Jul-Sep) | 30 September | 21 October | 11 November | | Q4 (Oct-Dec) | 31 December | 21 January | 11 February | ### Daily reporting for CASPS CASPs report to the issuers data on the tokens held every day by close of business. ### Notifications from Competent Authorities under MiCA CAs have specific obligations to notify the EBA under MiCA. Currently, the EBA receives the following types of notifications from CAs: | Legal basis | Notification description | | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------- | | Art 65 MiCA | Notification of cross-border provision of services | | Art 93 MiCA | Notification of MiCA competent authorities | | Art 99 MiCA | Notification of laws, regulations and administrative provisions | | Art 108 MiCA | Notification of complaints-handling procedures | | Art 111 MiCA | Notification of rules for administrative penalties | | Art 2 Commission Implementing [Regulation (EU) 2024/2494](/eu-level/technical-standards/its/implementing-technical-standards-cooperation-exchange-information-between-competent-authorities-eba.md) | Notification of contact points for the purpose of cooperating and exchanging information under Art 96 MiCA | For further details on the official notification channel and notification template please refer to the Information regarding notification requirements for Member States under MiCA . ### Links Asset-referenced and e-money tokens (MiCA) Commission Implementing Regulation (EU) 2024/2902 Commission Delegated Regulation (EU) 2025/298 EBA Guidelines EBA/GL/2024/16 EBA explainer on reporting obligations for ARTs and EMTs Data Protection Notice MiCA Supervision ### Registers Register of issuers of ARTs and EMTS Under MiCA, ESMA maintains a public register of issuers of ARTs and EMTs. Access the register Register of e-money institutions (EMIs) Under the PSD2, the EBA maintains a public register of licensed EMIs and Payment Institutions. Access the register Register of credit institutions (CIs) Under the CRD, the EBA maintains a register of licensed CIs. Access the register (EBA website source: ) --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://www.mica.wtf/eu-level/soft-law/supervisory-priorities-2026-art-emt-issuers.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.