In Push for “Capital Markets Union,” EU Aims to Unify Crypto Supervision Under ESMA
As part of its long-term strategy to create a unified capital market, the European Union is preparing to centralize the supervision of cryptocurrency services under its Paris-based regulator, ESMA.
This move is designed to end the fragmented national oversight that has characterized the initial rollout of the bloc’s MiCA regulations.
Verena Ross, Chair of the European Securities and Markets Authority, stated that the reform is essential for addressing “continued fragmentation in markets” and building a globally competitive financial system.
The current model, which has seen licenses issued by national authorities in countries like Malta, Lithuania, and Luxembourg, will be replaced by a centralized ESMA-led model to ensure consistent application of the MiCA rulebook across the 27-nation bloc.
