Svmuu News The European Central Bank (ECB) has expressed support for the EU's proposal to centralize regulatory authority over crypto-assets to the European Securities and Markets Authority (ESMA). Headquartered in Paris, the agency may become the unified crypto regulatory body across the EU in the future.
Currently, crypto regulation in the EU is primarily executed in a decentralized manner by individual member states. Although based on the MiCA framework, there are differences in enforcement standards and licensing processes. This proposal aims to reduce regulatory arbitrage, enhance cross-border coordination efficiency, and strengthen investor protection.
According to the plan, ESMA may in the future be responsible for supervising stablecoin issuers, overseeing trading platforms, and approving related whitepapers, while the ECB will focus on macro-financial risk assessment. Industry insiders believe this move could reduce cross-border compliance costs, but the specific scope of authority and transition arrangements still need further clarification. (CrowdfundInsider)