MiCA iXBRL White Papers: Why Passing Validation Is Not Enough

The MiCA Crypto Alliance has published a new report examining recurrent errors observed in iXBRL-converted MiCA white papers. Drawing on practical review experience, the report explains why white papers can pass standard validation checks while remaining materially non-compliant.

The analysis identifies seven distinct categories of error, ranging from schema-level failures to more subtle presentation, dimension, and consistency issues that are often missed by superficial validation workflows. It also highlights structural limitations in current tooling and validation practices used by both preparers and authorities.

The findings are grounded in the Alliance’s direct implementation experience under MiCA. By the start of 2026, the Alliance had already prepared and delivered more than a dozen MiCA white papers in inline XBRL, none of which have, to date, been identified as containing validation or structural errors by national competent authorities or their technical review partners. This work builds on the Alliance’s technical engagement with ESMA, including feedback on the MiCA XBRL implementation package made available to preparers, covering both the taxonomy and the associated conversion tooling, as well as the development of operational capability to prepare MiCA white papers in inline XBRL (iXBRL), aligned with Commission Implementing Regulation (EU) 2024/2984 and ESMA’s published taxonomy.

This experience demonstrates in practice why superficial validation approaches fall short, and why robust, integrated XBRL processes are required to produce disclosures that are not only machine-readable, but genuinely usable for supervisory review.

Read the full report: Seven Types of Errors in MiCA iXBRL White Papers and the Limits of Superficial Validation