EBA – Opinion on the interplay between PSD2 and MiCA
On 10 June 2025, the European Banking Authority (EBA) issued an Opinion qualified as a “No Action letter” in response to the request of the European Commission to clarify the regulatory interplay between the Payment Services Directive 2 (PSD2) and the Markets in Crypto-Assets Regulation (MiCA), specifically regarding Crypto-Asset Service Providers (CASPs) handling Electronic Money Tokens (EMTs).
About the author
Cécile Henry
Regulatory and compliance expert at Seqlense. Cécile authors every Seqlense Note — bringing hands-on experience and a pragmatic approach to regulatory analysis, with a focus on real operational impact rather than abstract theory. Her work covers French, Luxembourg and Belgian regulators, EU frameworks (MiCA, DORA, AML), and the operational reality of compliance in financial services and crypto.
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