ECB Supports ESMA in Overseeing Systemically Important Crypto Firms in EU
The European Central Bank (ECB) has endorsed a proposal to transfer direct supervision of systemically important cryptocurrency firms to the European Securities and Markets Authority (ESMA), potentially centralizing crypto regulation in the EU. This move is part of the European Commission’s 2026 legislative package and faces resistance from Ireland, Luxembourg, and Malta, which have their own crypto licensing regimes. The ECB’s support is seen as a strategic move to establish direct negotiation power on systemic risk and monetary policy issues.
Topics: Crypto Regulation ESMA EU Oversight European Central Bank MiCA Framework