EU Watchdog EBA Details Big Crypto Fines as Landmark Laws Bite
The European Banking Authority has proposed a standardized framework to fine cryptocurrency issuers that breach EU digital-asset rules, marking a tougher enforcement phase under MiCA. The plan applies to “significant” tokens and uses a two-step method to set penalties based on violation severity plus aggravating or mitigating factors. Maximum fines could reach 12.5% of annual turnover for significant asset-referenced tokens, 10% for significant e-money tokens, or twice the profits from the breach. The proposal arrives just before the July 1 deadline for crypto firms to obtain formal EU licenses to operate or market stablecoins across the bloc. Firms without authorization risk being forced to stop operating. Binance has already begun limiting some EU services after failing to secure MiCA approval in time. The EBA will keep the consultation open until September 28.
