Europe reconsiders crypto oversight as ESMA centralization gains momentum
NeutralCryptocurrency
- As the Markets in Crypto-Assets (MiCA) regulation enters its implementation phase, the European Union is reconsidering the oversight of cryptocurrency, with discussions on transferring supervision from national regulators to the European Securities and Markets Authority (ESMA) gaining traction due to inconsistent enforcement across member states.
- This shift in oversight is significant as it aims to create a more unified regulatory framework for cryptocurrencies in Europe, potentially enhancing investor protection and market integrity while addressing the challenges posed by varying national regulations.
- The ongoing debate reflects broader concerns about the regulatory landscape for cryptocurrencies, including the potential complications arising from proposals to transform ESMA into a more powerful entity akin to the U.S. Securities and Exchange Commission, which may affect licensing processes for crypto firms and the overall market dynamics.
— via World Pulse Now AI Editorial System
