Classification trigger
Record the Article 43, 44, 56, or 57 classification route, decision date, token type, issuer identity, source URL, retrieval date, evidence owner, and unresolved external-review questions.
What Article 119 changes operationally
Supervisory-college routing: ESMA's Interactive Single Rulebook title for Regulation (EU) 2023/1114 Article 119 is “Colleges for issuers of significant asset-referenced tokens and significant e-money tokens.” The public text states that within 30 calendar days of a decision to classify an asset-referenced token or e-money token as significant pursuant to Article 43, 44, 56 or 57, as applicable, EBA shall establish, manage, and chair a consultative supervisory college for each issuer.
The Article 119 text frames the college as a vehicle to facilitate EBA supervisory tasks and coordinate supervisory activities. It identifies EBA, ESMA, and the competent authorities of the issuer's home Member State among college participants, with other membership routes depending on the token, issuer, and services involved.
This page is an evidence-preparation checklist. It is not a legal interpretation, significance determination, EBA college instruction, supervisory-response instruction, authorisation opinion, provider endorsement, broker recommendation, or assurance about any issuer, token, CASP, authority route, college membership, request, or fact pattern.
Article 119 evidence matrix
30-day college setup clock
Track the 30 calendar day establishment window from the significance decision, EBA source references, internal owner, and any public status record without predicting supervisory outcomes.
Participant map
Map EBA, ESMA, home Member State competent authority, and other apparent authority or stakeholder touchpoints using public source links and retrieval dates.
Coordination records
Connect college notes to Article 95 competent-authority cooperation, Article 96 EBA/ESMA cooperation, Article 100 professional secrecy, and Article 101 data-protection records.
Issuer response file
Keep request-response owners, submitted versions, factual evidence, board or management-body notes where relevant, and unresolved qualified-review questions in one traceable file.
CASP-adjacent handoffs
If CASPs distribute, custody, trade, or service the token, link college context to Article 66 conduct, Article 70 safeguarding, Article 75 custody, and Article 109 register hygiene where relevant.
Review-ready tracker
- Source record: ESMA Interactive Single Rulebook URL, retrieval date, Article 119 title, and source owner.
- Trigger file: significant asset-referenced token or significant e-money token classification route, decision date, issuer identity, and article reference.
- College file: EBA establishment/chairing reference, participant map, authority source URLs, confidentiality notes, and response owner.
- Handoff file: Article 117 EBA supervision, Article 118 committee evidence, Article 95/96 cooperation, Article 100 professional-secrecy, and Article 101 privacy implications where relevant.
FAQ
What does MiCA Article 119 cover?
Article 119 is titled “Colleges for issuers of significant asset-referenced tokens and significant e-money tokens.” ESMA's public text describes EBA establishing, managing, and chairing consultative supervisory colleges for issuers after certain significance-classification decisions.
Why is Article 119 relevant to CASP diligence?
CASPs, issuers, counsel, auditors, and risk teams may need to track which supervisory-college facts are public-source context, which authority-response records are issuer-specific, and which operating evidence remains under the firm's control.
Does this page decide whether a token is significant?
No. It only helps organize conservative, source-backed evidence and handoffs. Significance classifications, college scope, supervisory responses, and issuer- or CASP-specific implications require qualified review.