The Seqlense Regulatory Brief - Crypto & TradFi - Edition #23 (English)

Enforcement is entering its fine-mechanics phase. The European Commission is testing whether Google's worldwide AI opt-out, live since 31 August 2026, gives publishers a real choice or an economically penalising one, with the CMA's more demanding 3 June ruling as a benchmark. Meanwhile the EBA is consulting until 28 September 2026 on how it will turn MiCA's caps (12.5% and 10% of turnover) into actual fines for significant ART and EMT issuers, via a basic amount adjusted for aggravating and mitigating factors. Both files ask the same question: how do you make a legal power workable, measurable and predictable? For issuers, demonstrable governance now shapes the penalty as much as the breach itself.