Euro balances on a crypto exchange: what to watch after the ESMA answer on MiCA article 70

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.The European securities regulator ESMA spelled out on October 16, 2026 where a crypto asset service provider may hold your euro balance. A payment service provider without a banking licence is only a staging post of at most one business day.When you transfer euros to a crypto exchange and leave them there until you buy, that money sits somewhere. Not with you, not in your wallet, but in an account somebody else runs. Which account that may be, and in whose name it has to be held, is what the European Securities and Markets Authority, ESMA, spelled out in a new answer on October 16, 2026. The short version: a payment service provider without a banking licence is a staging post for no more than one business day, and the account at the bank has to be in the exchange's name, not in the name of the provider in between. What ESMA answered on MiCA article 70 on October 16 ESMA published five new questions and answers that day. Four concern crowdfunding platforms and the calculation of ...