AB Transfers Crypto Regulation to Market Authority

EU Takes Step Towards Crypto Regulation

The European Union’s executive body has decided to bring the oversight of crypto companies under the umbrella of the European Securities and Markets Authority (ESMA). This move stands out as part of efforts to achieve "full integration" of financial markets.

The European Commission stated that this regulation would "make oversight more effective and facilitate cross-border activities." It was also reported that regulators in some countries expressed concerns regarding the implementation of MiCA and demanded stricter controls from ESMA.