The European Commission has opened a targeted consultation on the review of the Markets in Crypto‑Assets Regulation (MiCA), launching the first formal assessment of the EU’s digital‑assets regime since its phased application began.
The consultation runs from 20 May to 31 August 2026 and will inform a Commission report mandated under Articles 140 and 142 of MiCA.
The Commission says the exercise will determine whether MiCA “remains fit for purpose” in light of early implementation and market and policy developments. It is aimed at a specialised audience, including crypto‑asset service providers, issuers, national and European supervisors, central banks and finance ministries.
MiCA’s rules for stablecoins began applying on 30 June 2024, with the remainder — covering other tokens and crypto‑asset service providers — taking effect on 30 December 2024.
Supervisors have warned that the transition period could create uneven protections across the bloc. ESMA has highlighted the risk of “forum shopping” if Member States diverge in how they implement and enforce MiCA, noting that some jurisdictions may allow firms to operate without a MiCA licence until as late as 1 July 2026 under transitional arrangements.
This early supervisory experience — combined with rapid market evolution — forms the backdrop to the Commission’s review.
Responses will help the Commission compile its statutory report on MiCA’s application and on “latest developments in markets [for] crypto‑assets”. The Commission notes that the report may be accompanied by a legislative proposal to amend or complement MiCA if warranted.
Two reference documents — the consultation paper and a privacy statement — were published on 20 May 2026. Submissions are handled by Unit B4 – Digital Finance within DG FISMA.
Full information can be found on the dedicated website.
