Reverse solicitation under MiCA: where is your boundary?
The transitional period is over — the Art 61 exemption is the supervision hot spot, and ESMA construes it narrowly (ESMA35-1872330276-2030). Six questions, an orientation of your risk zones, and the questions to take to your counsel. Not legal advice.
1. Does your group operate a non-EU platform that EEA residents can reach?
2. Are any EEA clients still onboarded or served on the non-EU entity (not the authorized EU one)?
3. Does the non-EU entity (or influencers/partners with close links) run any promotion reachable in the EU — EU-language pages, EU domains, app stores, sponsorships?
4. Do you rely on website disclaimers or contract clauses to establish the client's own initiative?
5. Are reverse-solicited clients ever offered products beyond the type they initially requested (cross-sell)?
6. Is there a documented reverse-solicitation policy (initiative records, marketing controls, same-type limits)?