European Commission Proposes Single Oversight Regime for Crypto Under ESMA
The European Commission has taken a decisive step toward unifying crypto regulation across the EU by placing oversight of crypto companies under the sole jurisdiction of the European Securities and Markets Authority (ESMA). This move eliminates the patchwork of national regulatory approaches under the Markets in Crypto-Assets (MiCA) framework.
The initiative aims to foster a more competitive and innovative financial ecosystem while simplifying access to capital markets. "Deeper integration of financial markets is not an end, but a means to create a single market for financial services greater than the sum of its national parts," the Commission stated. The new rules will particularly affect Crypto-Asset Service Providers (CASPs), consolidating their supervision under ESMA.
