Lawyers Say MiCA Does Not Bar ECB From Contacting National Regulators During Licensing

Lawyers say the European Union’s Markets in Crypto-Assets Regulation (MiCA) does not prevent the European Central Bank (ECB) from communicating with national regulators while crypto firms’ license applications are being processed. According to Cointelegraph, the lawyers emphasized that while the ECB may engage with member-state authorities during the application process, the ultimate decisions on crypto licensing remain with national regulators in each member state.

The report highlights a distinction between communication and decision-making authority under MiCA. The lawyers’ view is that the framework does not prohibit the ECB from exchanging information or coordinating with national regulators as applications move through review. However, they said MiCA keeps the power to grant or deny crypto licenses at the member-state level, meaning national authorities retain responsibility for final approvals. The comments focus on how MiCA is interpreted during the licensing process and clarify that any ECB involvement described would not replace or override national regulators’ formal role in issuing licenses.