The European Banking Authority (EBA) has released the final draft of technical standards for the Markets in Crypto Assets (MiCA) legislation. Collaboratively developed with organizations such as ESMA and the ECB, these standards focus on the regulations concerning own funds, liquidity requirements, and recovery plans for crypto issuers. Issuers of asset-referenced tokens (ARTs) and e-money tokens (EMTs) must undergo stress testing under various financial stress scenarios. Competent authorities hold the power to adjust own funds requirements based on risk assessment and stress test outcomes. The draft standards establish specific criteria for identifying 'higher risk levels' and articulate the protocol for competent authorities to dictate the period within which issuers must enhance their own funds to meet the escalated requirements. Additionally, they outline the essential components for creating and executing stress-testing programs. Furthermore, the standards delineate the process and timeline for issuers to adapt their own funds when issuing substantial ARTs or EMTs, along with setting liquidity prerequisites for reserve assets. These include stipulating minimum percentages for daily and weekly maturities and minimum deposit sums in official currencies. Moreover, the norms identify highly liquid financial instruments eligible for liquidity coverage ratio (LCR) and impose concentration restrictions on such instruments by the issuer. They also define the minimum parameters for liquidity management policies and procedures, encompassing strategies for detecting, quantifying, and handling liquidity risks, as well as contingency plans and risk mitigation tools. Apart from the technical standards, the EBA has issued guidelines on recovery plans, specifying the structure and content requisites for entities to devise and sustain such plans. These guidelines aim to enhance clarity in communication and simplify disclosure procedures. The creation of these regulatory products aligns with EBA's efforts to foster a well-governed market for asset-referenced and e-money tokens across the EU. The collaborative development of draft standards with ESMA and the ECB underscores compliance with pertinent MiCA regulation articles.