MiCA: Reverse Solicitation and Broker Models

An overview of delegated acts, technical standards, and guidelines regarding reverse solicitation and broker models.
Last updated December 2025.

Guidelines on reverse solicitation under MiCA

Status: In force (subject to relevant transitional period)
Source: ESMA

ESMA table on Member States which intend to comply with the MiCA reverse solicitation guidelines

Status: N/A
Source: ESMA

ESMA opinion to support the convergent application of MiCA (regarding broker models and third-country routing)

Status: N/A
Source: ESMA

SMSG advice to ESMA on its consultation papers on reverse solicitation and the qualification of crypto-assets as financial instruments under MiCA

Status: N/A
Source: SMSG

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