The European Commission is collecting public and targeted feedback on the review of MiCA, with both consultations open until 31 August 2026.

The review asks whether the EU’s crypto framework still fits a market that has changed since MiCA was drafted, including stablecoins, tokenized assets, issuers and crypto-asset service providers.

This matters because MiCA is no longer only a launch framework. It is becoming a live regulatory system that must react to products moving faster than legal categories.

The second-order risk is regulatory fragmentation by correction: if Europe keeps adding patches after new products appear, builders may face clearer rules on paper but slower product cycles in practice.

Next, watch whether the review produces narrow technical fixes or a broader MiCA 2-style expansion around tokenization and non-EU stablecoin issuers.