> For the complete documentation index, see [llms.txt](https://www.headlesslaw.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.headlesslaw.com/mica/articles/117.md).

# Article 117 — Supervisory responsibilities of EBA with respect to issuers of significant asset-referenced tokens and issuers of significant e-money tokens

*In force · Consolidated version of 9 January 2024 · Checked against EUR-Lex on 19 Oct 2026 ·* [*Official source*](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02023R1114-20240109)

1. Where an [asset-referenced token](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) has been classified as significant in accordance with [Article 43](/mica/articles/43.md) or [44](/mica/articles/44.md), the [issuer](https://www.headlesslaw.com/definitions/mica/issuer) of such asset-referenced token shall carry out its activities under the supervision of EBA.

   Without prejudice to the powers of national [competent authorities](https://www.headlesslaw.com/definitions/mica/competent-authority) under paragraph 2 of this Article, EBA shall exercise the powers of competent authorities conferred by Articles [22](/mica/articles/22.md) to [25](/mica/articles/25.md), [29](/mica/articles/29.md), [33](/mica/articles/33.md) [Article 34](/mica/articles/34.md)(7) and (12), [Article 35](/mica/articles/35.md)(3) and (5), [Article 36](/mica/articles/36.md)(10) and Articles [41](/mica/articles/41.md), [42](/mica/articles/42.md), [46](/mica/articles/46.md) and [47](/mica/articles/47.md) as regards [issuers](https://www.headlesslaw.com/definitions/mica/issuer) of significant [asset-referenced tokens](https://www.headlesslaw.com/definitions/mica/asset-referenced-token).
2. Where an [issuer](https://www.headlesslaw.com/definitions/mica/issuer) of a significant [asset-referenced token](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) also provides [crypto-asset services](https://www.headlesslaw.com/definitions/mica/crypto-asset-service) or issues crypto-assets that are not significant asset-referenced tokens, those services and activities shall remain under the supervision of the [competent authority](https://www.headlesslaw.com/definitions/mica/competent-authority) of the [home Member State](https://www.headlesslaw.com/definitions/mica/home-member-state).
3. Where an [asset-referenced token](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) has been classified as significant in accordance with [Article 43](/mica/articles/43.md), EBA shall conduct a supervisory reassessment to ensure that the [issuer](https://www.headlesslaw.com/definitions/mica/issuer) complies with Title III.
4. Where an [e-money token](https://www.headlesslaw.com/definitions/mica/electronic-money-token) issued by an [electronic money institution](https://www.headlesslaw.com/definitions/mica/electronic-money-institution) has been classified as significant in accordance with [Article 56](/mica/articles/56.md) or [57](/mica/articles/57.md), EBA shall supervise the compliance of the issuer of such significant e-money token with Articles [55](/mica/articles/55.md) and [58](/mica/articles/58.md).

   For the purposes of the supervision of compliance with Articles [55](/mica/articles/55.md) and [58](/mica/articles/58.md), EBA shall exercise the powers of the competent authorities conferred on them by Articles [22](/mica/articles/22.md) and [23](/mica/articles/23.md), [Article 24](/mica/articles/24.md)(3), [Article 35](/mica/articles/35.md)(3) and (5), [Article 36](/mica/articles/36.md)(10) and Articles [46](/mica/articles/46.md) and [47](/mica/articles/47.md), as regards [electronic money institutions](https://www.headlesslaw.com/definitions/mica/electronic-money-institution) issuing significant [e-money tokens](https://www.headlesslaw.com/definitions/mica/electronic-money-token).
5. EBA shall exercise its supervisory powers as provided in paragraphs 1 to 4 in close cooperation with the other competent authorities responsible for supervising the issuer, in particular:

   **(a)** the prudential supervisory authority, including, where applicable, the ECB under Regulation (EU) No 1024/2013;

   **(b)** relevant competent authorities under national law transposing Directive 2009/110/EC, where applicable;

   **(c)** the competent authorities referred to in [Article 20](/mica/articles/20.md)(1).

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#### Related

* [electronic money institution](https://www.headlesslaw.com/definitions/mica/electronic-money-institution) — definition used in this article
* [asset-referenced token](https://www.headlesslaw.com/definitions/mica/asset-referenced-token) — definition used in this article
* [competent authority](https://www.headlesslaw.com/definitions/mica/competent-authority) — definition used in this article
* [home Member State](https://www.headlesslaw.com/definitions/mica/home-member-state) — definition used in this article
* [electronic money](https://www.headlesslaw.com/definitions/mica/electronic-money) — definition used in this article

### Related Level 2 and Level 3

#### Guidance and Q\&A

* [EBA — Statement — Priorities 2026: ART/EMT Issuers \[published\]](/mica/level-3/statements/supervisory-priorities-2026-art-emt-issuers.md)
* [EBA — Statement — Priorities: ART/EMT Issuers 2024 \[published\]](/mica/level-3/statements/priorities-for-the-supervision-of-for-art-and-emt-issuers.md)

***

[Title VII — Competent authorities, EBA and ESMA](/mica/titles/vii.md) › Chapter 4 — Supervisory responsibilities of EBA with respect to issuers of significant asset-referenced tokens and significant e-money tokens and colleges of supervisors · [← Article 116](/mica/articles/116.md) · [Article 118 →](/mica/articles/118.md)