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ARTICLE · 13 JUNE 2025

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Navigating Regulatory Overlap: EBA Clarifies Interplay Between PSD2 And MiCA

GTG Legal
GTG Legal
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GTG Legal

GTG Legal

Since its founding in 1997, GTG has been at the forefront of Malta’s legal profession, blending...

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In a much-anticipated opinion, the European Banking Authority (EBA) has addressed one of the most pressing regulatory questions...

MaltaFinance and Banking
Cherise Abela Grech
Cherise Abela Grech

PSD2 and MiCA

In a much-anticipated opinion, the European Banking Authority (EBA) has addressed one of the most pressing regulatory questions facing crypto-asset service providers (CASPs): how the existing Payment Services Directive (PSD2) interacts with the Markets in Crypto-Assets Regulation (MiCA), particularly where electronic money tokens (EMTs) are concerned.

As both regulatory regimes are designed to address different financial activities, the risk of duplication and regulatory uncertainty has been a growing concern for both regulators and the market participants. The EBA's opinion provides crucial clarity on this issue and outlines practical steps to guide national competent authorities (NCAs) during the transitional period.

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