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EBA updates authorization requirements for ARTs and EMTs under MiCAR

The European Banking Authority has published new guidelines for issuers of asset-referenced tokens and electronic money tokens under MiCAR, detailing necessary authorizations and technical standards.

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The European Banking Authority published new guidelines on October 10, 2023, regarding the authorization requirements for issuers of asset-referenced tokens (ARTs) and electronic money tokens (EMTs) under the Markets in Crypto-assets Regulation (MiCAR). Issuers must comply with these updated standards, which include provisions on liquidity management, conflict of interest policies, and governance arrangements.

The guidelines rely on the Markets in Crypto-assets Regulation (MiCAR) and are complemented by technical standards and guidelines developed by the EBA. These standards specify requirements for liquidity management policies and procedures, as well as conflict of interest policies for issuers of ARTs under MiCAR.

The new requirements apply to issuers of ARTs and EMTs operating within the European Union. Compliance officers at these firms must review the guidelines to ensure alignment with the updated requirements.

The EBA has outlined supervisory priorities for 2024-2025, focusing on financial resilience and technology risk management for ART and EMT issuers. No specific deadline for compliance is stated in the material, but immediate action is recommended to assess current compliance frameworks.

Source: EBA, official publication, retrieved 2026-08-11

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