PARIS, April 15, 2026 — The European Securities and Markets Authority published a compliance table showing which national competent authorities comply, or intend to comply, with its MiCA guidelines on suitability requirements and periodic statements for crypto-asset portfolio management activities.
The update provides a supervisory snapshot of how regulators are aligning with common standards under the Markets in Crypto-Assets Regulation as MiCA enters its implementation phase.
Supervisory convergence under MiCA
The guidelines cover certain aspects of suitability assessments and the format of periodic statements that crypto-asset service providers must provide when offering portfolio management services under MiCA. ESMA said the measures are intended to promote greater convergence in supervisory approaches and the application of investor-protection requirements across jurisdictions.
Compliance tables are used by ESMA to disclose whether national authorities comply, do not comply, or intend to comply with issued guidelines. The mechanism is designed to support more consistent implementation of EU financial rules while highlighting areas where national adoption remains in progress.
Why the update matters
For crypto firms operating across multiple EU markets, supervisory consistency is a key issue as MiCA moves into day-to-day application. Divergent national interpretations could increase compliance costs and complicate passporting strategies for firms seeking to serve clients across the bloc.
The updated table offers an indicator of how closely domestic regulators are aligning with ESMA’s common expectations for investor suitability reviews and portfolio reporting standards.
