ESMA clarifies how crypto exchanges must hold client euros under MiCA
- —Client funds may stay with a non-bank PSP for at most one business day
- —The bank account must be in the CASP's name, not the payment provider's
- —Guidance published October 16; answer dated October 6, 2026
- —The rule covers fiat euros, not the crypto assets themselves
Why it matters: The guidance tightens client-fund protection at EU exchanges and reduces exposure if an intermediary fails.
Source: CryptoTicker