MiCA EMT and ART token issuer authorization (Spain)
The Emisor de fichas de dinero electrónico (EMT) y de fichas referenciadas a activos (ART) bajo MiCA / MiCA EMT and ART token issuer authorization is issued by Bank of Spain (BdE) under Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA). It can be passported to the other EU/EEA states by notification. Ownership changes need the regulator's approval before completion.
At a glance
| Official name | MiCA EMT and ART token issuer authorization1 |
|---|---|
| Local name | Emisor de fichas de dinero electrónico (EMT) y de fichas referenciadas a activos (ART) bajo MiCA |
| Also known as | Spanish EMT issuer authorisation · Spanish stablecoin issuer authorisation · MiCA EMT issuer (Spain) · MiCA ART issuer (Spain) · EMT/ART issuer |
| Issued by | Bank of Spain |
| Jurisdiction | Spain |
| Licence family | Stablecoin / e-money token issuer |
| Legal basis | Regulation (EU) 2023/1114 on markets in crypto-assets (MiCA)2 |
| Passporting | EU/EEA passport available |
What it lets you do
| Issuing e-money tokens | Offering to the public, or seeking admission to trading of, a token that references the value of a single official currency. |
|---|---|
| Issuing asset-referenced tokens | Offering to the public, or seeking admission to trading of, a token that stabilises its value by referencing other assets or a basket of currencies. |
Where it is valid
Buying a company that already holds it
Prior notification with an objection period. Any natural or legal person intending to acquire or increase, directly or indirectly, a qualifying holding reaching or exceeding 10%, 20%, 30%, or 50% of the share capital or voting rights, or to acquire control of an electronic money institution, payment institution, or credit financial establishment, must submit prior notification to Banco de España under Procedure ES_BDE_C056_P247 (or ES_BDE_C056_P114 for banks). Banco de España assesses acquirer reputation, financial soundness, and AML/CFT risks within a statutory maximum period of 60 working days from written acknowledgement of receipt. Closing without non-opposition suspends voting rights and triggers administrative penalties under Ley 10/2014 and Real Decreto 736/2019.3
EMT/ART in other countries
| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
|---|---|---|---|---|---|
| Luxembourg | Electronic money token issuer authorisation / notificationElectronic money token issuer authorisation / notification under MiCA Regulation | CSSF | n/a | EUR 5,000 | n/a |
| Netherlands | Asset-referenced token (ART) issuer licenceAsset-referenced token (ART) issuer licence under EU MiCA | DNB | n/a | EUR 10,000 | ~7.9 mo |
| Netherlands | E-money token (EMT) issuer notificationE-money token (EMT) issuer notification under EU MiCA | DNB | n/a | EUR 3,200 | n/a |
| Spain | MiCA EMT and ART token issuer authorization | BdE | n/a | n/a | n/a |
| United Arab Emirates | Payment Token Issuer Licence (Dirham Payment Tokens) | CBUAE | n/a | n/a | ~2.8 mo |
Values come from each licence's page, where every figure has its source.
Laws behind it
- Markets in Crypto-Assets Regulation: Regulation (EU) 2023/1114
Sources
- sedeelectronica.bde.es: aplicacion del reglamento relativo a los mercados de criptoa · retrieved 2026-09-24
- EUR-Lex: CELEX 32023R1114 · retrieved 2026-09-24
- sedeelectronica.bde.es: adquisicion participaciones significativas establecimientos · retrieved 2026-09-24
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