The European Banking Authority on June 26 published a consultation paper proposing standardized penalties for crypto-asset issuers that breach MiCA, adding detail to how the EU could enforce its new crypto regime ahead of the July 1 licensing deadline. Under the proposal, noncompliant issuers of significant tokens could face fines of up to 12.5% of annual revenue or twice the profits gained from violations, while significant e-money token issuers could face fines of up to 10% of annual revenue.