EU eyes crypto oversight under ESMA to end fragmented supervision
ESMA moves to take direct control of crypto oversight under MiCA as EU states clash over cross-border licensing and fragmented market supervision.
The European Union’s markets regulator is preparing to expand its authority to cover cryptocurrency exchanges and other operators, a move officials say would better align oversight with the bloc’s newly implemented Markets in Crypto-Assets (MiCA) framework.
Verena Ross, chair of the European Securities and Markets Authority (ESMA), confirmed in an interview with the Financial Times that the European Commission is developing plans to shift supervision of several financial sectors, including crypto, from national regulators to ESMA.
Ross said the reform would help build “a more integrated and globally competitive” EU financial landscape. The proposal aims to address “continued fragmentation in markets” and move closer to a unified capital market across Europe, she said.