ECB backs plan to shift EU crypto firm oversight from national regulators to ESMA
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Promote with Leviathan News- ECB endorsed centralizing supervision of systemically important crypto firms and major trading venues under ESMA, replacing the current fragmented system of 27 national regulators - The move targets regulatory arbitrage β large platforms currently authorize in softer jurisdictions like Luxembourg, Malta, and Ireland, which oppose the plan over fears of losing supervisory power - Part of the EU's Capital Markets Union agenda; ECB warned ESMA needs adequate staffing and funding to handle the expanded mandate. Negotiations expected to take several months before finalization by EU governments and Parliament
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- ECB backs centralized oversight of major crypto firms - CoinGeek (coingeek.com)
- ECB Backs ESMA-Led Crypto Supervision in Potential EU Oversight ... (binance.com)
- EU central bank backs plan for crypto supervision under EU markets ... (tradingview.com)
- Markets in Crypto-Assets Regulation (MiCA) (esma.europa.eu)
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