European Banking Authority Issues MiCA Penalty Framework on June 26; Fines Up to 12.5% Annual Revenue

According to Cointelegraph, the European Banking Authority (EBA) issued a standardized penalty framework on June 26 for crypto asset issuers violating MiCA regulations. Major token issuers face fines up to 12.5% of annual revenue or twice the profit from violations, while significant e-money token issuers face a 10% annual revenue cap. The EBA will apply a two-step process to determine penalty amounts, considering aggravating and mitigating factors. The framework marks the start of substantive MiCA enforcement in the EU. Crypto companies must obtain formal licenses from national regulators by July 1 to operate legally across the EU's 27 member states; non-compliant firms risk operational suspension.
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