On 20 May 2026, the European Commission launched a public consultation and a parallel targeted consultation on the review of Regulation (EU) 2023/1114, the Markets in Crypto-Assets Regulation. The consultation is an information-gathering exercise that will produce a report the Commission is mandated to prepare under Articles 140 and 142 of MiCA. That report may be accompanied by a legislative proposal to amend or supplement MiCA if the Commission considers amendment warranted.
Article 140 of MiCA requires the Commission to report on MiCA's application and on significant market and policy developments since the regulation entered full application in December 2024. Article 142 requires a report on whether MiCA's scope should be extended to financial instruments not currently covered. The targeted consultation is directed at crypto-asset service providers authorized under MiCA, issuers of asset-referenced tokens and e-money tokens, financial institutions, technology providers, industry associations, and EU public authorities. The public consultation is open to all respondents.
Authorized CASPs, asset-referenced token issuers, and e-money token issuers have the strongest direct interest in the consultation's outcome, as any resulting legislative proposal could alter the authorization conditions or operating requirements under which they are currently licensed. Financial institutions that entered crypto-asset markets through MiCA CASP authorization should assess whether the consultation raises questions about prudential or pass-through provisions that apply to them. Submitting a response to the targeted consultation is the primary available mechanism for market participants to influence whether and how MiCA is amended in the next EU legislative cycle.
The consultation deadline is 23:59 CEST on 31 August 2026. The Commission has not indicated a timeline for any subsequent legislative proposal. Questions in the consultation document include MiCA's interaction with EU Digital Finance Strategy initiatives, third-country equivalence treatment, and whether existing CASP authorization conditions remain calibrated to current market conditions. The consultation document is publicly available on the European Commission's finance website.
Licentium assists digital asset businesses and financial institutions in preparing substantive responses to EU regulatory consultations, identifying provisions of most concern to their operations and presenting technically grounded positions to the Commission. We also advise on MiCA authorization strategies and regulatory positioning ahead of any potential amendments. Contact us if you plan to submit a response before 31 August 2026. Work we undertake includes MiCA CASP authorization, EU regulatory consultation responses, asset-referenced token regime analysis, EU legislative monitoring, and digital asset licensing strategy.