ESMA could gain direct supervision over crypto firms
Industry experts warn centralising supervision under ESMA could slow innovation for smaller crypto and fintech startups.
The European Commission has proposed giving the European Securities and Markets Authority (ESMA) expanded powers to oversee crypto and broader financial markets, aiming to close the regulatory gap with the United States.
The plan would give ESMA direct supervision of crypto service providers, trading venues, and central counterparties, while boosting its role in asset management coordination. Approval from the European Parliament and the Council is still required.
Calls for stronger oversight have grown following concerns over lenient national regimes, including Malta’s…
