EU Plans Major Shift in Crypto Regulation Under ESMA
The European Union is preparing to overhaul how it supervises cryptocurrency companies. The plan would transfer oversight from individual countries to a single EU-wide regulator, the European Securities and Markets Authority (ESMA).
This move has sparked debate across Europe’s 27 member states.
ESMA Chair Verena Ross confirmed the European Commission is drafting proposals to shift crypto supervision from national regulators to ESMA. The goal is to fix problems caused by having different supervisors in each country enforce the same rules.
“This would provide a key impetus towards having a capital market in Europe that is more integrated and globally competitive,” Ross told the Financial Times.
