Supervision

Who regulates crypto under MiCA

MiCA is one EU-wide rulebook, but it is enforced by national regulators. A crypto-asset firm is authorised by the competent authority of a single member state, and that licence then passports across the whole EU and EEA. This page gathers the EU-level framework and every national authority, with official links and what they supervise.

As of 18 August 2026, MICA Watch tracks authorised providers across 30 jurisdictions. Figures below are drawn from the ESMA interim register.

The EU framework

MiCA replaced a patchwork of national crypto regimes with a single rulebook. Two European authorities set the technical detail and coordinate supervision; the national regulators below do the licensing.

Markets in Crypto-Assets Regulation (MiCA)

Regulation (EU) 2023/1114

The single EU-wide rulebook for crypto-assets not already covered by other financial-services law. It sets uniform rules for issuing asset-referenced tokens (ARTs) and e-money tokens (EMTs), for publishing crypto-asset white papers, and for authorising and supervising crypto-asset service providers (CASPs). Adopted 31 May 2023; the stablecoin titles (ART/EMT) have applied since 30 June 2024 and the CASP regime since 30 December 2024.

Official Journal text ↗ Plain-language summary ↗ In force · applies from 30 Dec 2024

Level 2 & 3 measures (RTS, ITS and Guidelines)

Delegated & implementing acts under MiCA

MiCA is fleshed out by technical standards and guidelines that make its requirements operational: regulatory and implementing technical standards (RTS/ITS) plus supervisory guidelines drafted by ESMA and the EBA and adopted across 2024–2025. They cover CASP authorisation and governance, complaints handling, conflicts of interest, market-abuse reporting, and the prudential treatment of stablecoin issuers. ESMA maintains a public register of which measure applies to which article of MiCA.

ESMA Level 2 & 3 table (PDF) ↗ Finalised 2024–2025

The two European supervisory authorities

ESMA · European Securities and Markets Authority

The EU securities regulator. ESMA coordinates the consistent application of MiCA across member states, drafts most of the CASP-facing technical standards, and keeps the EU-wide registers of authorised providers and of non-compliant entities.

Official MiCA page ↗

EBA · European Banking Authority

The EU banking regulator. The EBA leads on the stablecoin side of MiCA: it sets prudential standards for issuers of asset-referenced and e-money tokens, and directly supervises those tokens classified as “significant” by size or reach.

Official MiCA page ↗

National competent authorities

Each EU and EEA state designates one or more authorities to authorise and supervise crypto-asset firms under MiCA. Below is the authority MICA Watch tracks for each country — with the number of Crypto-Asset Service Providers (CASPs) it has authorised so far.