The European Commission launched its review of Regulation (EU) 2023/1114 on markets in crypto-assets on 20 May 2026, publishing a targeted consultation aimed at specialised respondents alongside a public consultation open to the general public. The exercise sits at the consultation stage and precedes any legislative proposal to amend the Regulation.
The Commission presents the consultation as preparation for the mandatory reports on the application of MiCA required by Articles 140 and 142 of the Regulation. Respondents are asked whether MiCA remains fit for purpose in light of initial implementation and of market and policy developments since it entered into application. The questions cover crypto-assets generally, asset-referenced tokens, e-money tokens and their issuers, and crypto-asset service providers.
Authorised crypto-asset service providers, issuers of asset-referenced tokens and issuers of e-money tokens have the most at stake, because the review will shape whether authorisation, reserve, disclosure and supervisory obligations are reopened. National and European supervisors, central banks and finance ministries are addressed in the same targeted document. Firms that took MiCA authorisation early hold the implementation record the Commission is asking about.
The targeted consultation closes at 23:59 CEST on 30 September 2026, a date reached after an extension of the original deadline. The public consultation ran to 31 August 2026. Responses to the targeted exercise are filed through the Commission online survey, and questions go to the Digital finance unit contact point published on the consultation page.
Licentium advises crypto-asset issuers, service providers and investors on European authorisation and conduct duties. Work we undertake includes MiCA authorisation files, white paper review, consultation responses and supervisory engagement with national competent authorities.
Source: European Commission, Targeted consultation on the review of MiCA Regulation