The European Banking Authority (EBA) has released a consultation paper outlining a standardized penalty framework for crypto asset issuers that violate the Markets in Crypto-Assets (MiCA) regulations. Announced on June 26, the proposal suggests fines for non-compliant issuers of significant tokens up to 12.5% of annual revenue or twice the profits gained from the violation. For significant e-money tokens, the penalty cap is set at 10% of annual revenue. The EBA will determine fines through a strict two-step process, assessing the severity of the breach and considering aggravating or mitigating factors. This development marks a significant step towards the enforcement of MiCA regulations in the EU, as the July 1 deadline approaches. By this date, crypto companies must secure formal licenses from national regulators to operate legally across the EU's 27 member states. Companies failing to obtain these licenses risk being shut down.