EBA Establishes Centralized MiCA Reporting Platform for ART and EMT Issuers Using EUCLID

Key Takeaways

• The European Banking Authority has adopted a decision establishing a shared technical platform, built on its EUCLID infrastructure, through which issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) must submit MiCA reporting data directly.
• Issuers can satisfy their reporting obligations only through this platform, so compliance teams must prepare for onboarding and new submission workflows.
• The decision took effect immediately upon adoption.

Deep Dive

The European Banking Authority has adopted a decision establishing a shared technical platform, built on its EUCLID infrastructure, through which issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) must submit MiCA reporting data directly. Issuers can satisfy their reporting obligations only through this platform, so compliance teams must prepare for onboarding and new submission workflows. The decision took effect immediately upon adoption.

The decision implements the Board of Supervisors' December 2024 agreement to centralize MiCA data collection. Issuers will no longer submit data through channels set by individual national competent authorities (NCAs). Instead, they submit directly to the MiCA reporting platform, which then disseminates the data automatically to the EBA, the ECB, host authorities, and national central banks as MiCA Articles 22(4), 43(4), and 56(3) require. Under Article 2, issuers can discharge their reporting obligations under the reporting ITS (Regulation (EU) 2024/2902) and the reporting Guidelines (EBA/GL/2024/16) only by submitting through this platform, whether or not the token has been classified as significant.

Key requirements for issuers: (1) provide the NCA with a list of the persons responsible for submitting data, plus the technical information needed for onboarding, and notify the NCA without undue delay of any change; (2) keep the existing remittance and reference dates and instructions from the ITS and Guidelines; and (3) submit corrections for incomplete or incorrect data, and any explanations the NCA requests, without undue delay. Where the EBA supervises a significant token, it will communicate these obligations to the issuer. NCAs must give the EBA master data on issuers and tokens when a token becomes subject to reporting, confirm it annually by the end of each calendar year, and update it without undue delay when it changes. They must also provide contact details for submitters and for platform access management.

NCAs remain responsible for data quality (Article 4) and must request corrections or explanations from issuers and resolve quality issues promptly. Issuer submissions to the platform also satisfy the NCA's obligation to report significance assessment data to the EBA. The detailed functionalities, templates, and operational procedures will be in a separate "MiCA reporting platform requirements" document adopted by the EBA's Information and Data Committee. That document is not yet part of this decision, so firms should monitor its publication. The decision also amends the EUCLID Decision annex to add MiCA, the reporting ITS, the significance Decision (EBA/DC/558), and the reporting Guidelines. The decision sets no separate compliance deadline beyond its immediate entry into force, so issuers should expect timing to come from their NCA and the requirements document.

Recommended actions: (1) identify and designate authorized submitters, and document the onboarding and change-notification process; (2) engage the NCA on onboarding timelines and technical specifications; (3) map existing MiCA reporting workflows (own funds, liquidity, and significance data) to the platform and test data formats; (4) set up controls for data completeness and accuracy and a rapid-response process for correction requests; and (5) track the platform requirements document and any NCA communications. Risks include missed or non-compliant submissions if firms use legacy channels, weak data quality leading to supervisory follow-up, and access-control or operational failures if submitter lists go stale. Because the platform feeds multiple authorities simultaneously, errors will be visible to all of them, which increases supervisory and reputational exposure.

Source: European Banking Authority