Article 128 Cooperation with other authorities

This short but practically important article addresses a coordination gap that arises when issuers of significant asset-referenced tokens or significant e-money tokens operate beyond the scope of MiCA itself.

In those cases, EBA is required to cooperate with whichever authorities are responsible for supervising those other activities, whether under Union or national law.

This article directly complements the college framework established in Article 119, extending EBA's cooperative reach to supervisory bodies that sit outside that college structure, including tax authorities and third-country supervisors.

Important points:

• EBA is required to cooperate with other supervisory authorities — including tax authorities and third-country supervisors not in the Article 119 college — when significant token issuers engage in activities outside MiCA's scope.
• The cooperation obligation is triggered by the issuer's conduct, not EBA's discretion — if the issuer acts in areas beyond this Regulation, the cooperation duty applies.
• This article covers both significant asset-referenced token issuers and significant e-money token issuers equally.