> 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/mica/title-vii-competent-authorities-eba-and-esma-art.-93-138/chapter-4/article-117.md).

# Article 117

|                 |                                                                                 |
| --------------- | ------------------------------------------------------------------------------- |
| **Instrument**  | Regulation (EU) 2023/1114 (MiCA)                                                |
| **Source**      | [EUR-Lex](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1114) |
| **Status**      | In force                                                                        |
| **Review rule** | Legal-text changes require human review                                         |

## Supervisory responsibilities of EBA with respect to issuers of significant asset-referenced tokens and issuers of significant e-money tokens

1. Where an [asset-referenced token](https://www.mica.wtf/definitions/definitions/mica/asset-referenced-token) has been classified as significant in accordance with [Article 43](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-5/article-43.md) or [44](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-5/article-44.md), the [issuer](https://www.mica.wtf/definitions/definitions/mica/issuer) of such asset-referenced token shall carry out its activities under the supervision of EBA.\
   Without prejudice to the powers of national [competent authorities](https://www.mica.wtf/definitions/definitions/mica/competent-authority) under paragraph 2 of this Article, EBA shall exercise the powers of competent authorities conferred by Articles [22](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-22.md) to [25](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-25.md), [29](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-29.md), [33](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-33.md) [Article 34](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-34.md)(7) and (12), [Article 35](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-35.md)(3) and (5), [Article 36](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-3/article-36.md)(10) and Articles [41](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-41.md), [42](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-4/article-42.md), [46](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-6/article-46.md) and [47](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-6/article-47.md) as regards [issuers](https://www.mica.wtf/definitions/definitions/mica/issuer) of significant [asset-referenced tokens](https://www.mica.wtf/definitions/definitions/mica/asset-referenced-token).
2. Where an issuer of a significant asset-referenced token also provides [crypto-asset services](https://www.mica.wtf/definitions/definitions/mica/crypto-asset-service) or issues crypto-assets that are not significant asset-referenced tokens, those services and activities shall remain under the supervision of the [competent authority](https://www.mica.wtf/definitions/definitions/mica/competent-authority) of the [home Member State](https://www.mica.wtf/definitions/definitions/mica/home-member-state).
3. Where an asset-referenced token has been classified as significant in accordance with [Article 43](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-5/article-43.md), EBA shall conduct a supervisory reassessment to ensure that the issuer complies with Title III.
4. Where an [e-money token](https://www.mica.wtf/definitions/definitions/mica/electronic-money-token) issued by an [electronic money institution](https://www.mica.wtf/definitions/definitions/mica/electronic-money-institution) has been classified as significant in accordance with [Article 56](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-56.md) or [57](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-57.md), EBA shall supervise the compliance of the issuer of such significant e-money token with Articles [55](/mica/title-iv-e-money-tokens-art.-48-48/chapter-1/article-55.md) and [58](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-58.md).\
   For the purposes of the supervision of compliance with Articles [55](/mica/title-iv-e-money-tokens-art.-48-48/chapter-1/article-55.md) and [58](/mica/title-iv-e-money-tokens-art.-48-48/chapter-2/article-58.md), EBA shall exercise the powers of the competent authorities conferred on them by Articles [22](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-22.md) and [23](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-23.md), [Article 24](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-24.md)(3), [Article 35](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-2/article-35.md)(3) and (5), [Article 36](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-3/article-36.md)(10) and Articles [46](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-6/article-46.md) and [47](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-6/article-47.md), as regards [electronic money](https://www.mica.wtf/definitions/definitions/mica/electronic-money) institutions issuing significant [e-money tokens](https://www.mica.wtf/definitions/definitions/mica/electronic-money-token).
5. EBA shall exercise its supervisory powers as provided in paragraphs 1 to 4 in close cooperation with the other competent authorities responsible for supervising the issuer, in particular:
   1. the prudential supervisory authority, including, where applicable, the ECB under Regulation (EU) No 1024/2013;
   2. relevant competent authorities under national law transposing Directive 2009/110/EC, where applicable;
   3. the competent authorities referred to in [Article 20](/mica/title-iii-asset-referenced-tokens-art.-16-47/chapter-1/article-20.md)(1).

***

#### Level 2 instruments

* [EBA Priorities 2026 — ART/EMT Issuers](/eu-level/soft-law/supervisory-priorities-2026-art-emt-issuers.md) — Statement
* [EBA Priorities — ART/EMT Issuers 2024](/eu-level/soft-law/priorities-for-the-supervision-of-for-art-and-emt-issuers.md) — Statement


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