The Parliament of the EU has designated ESMA, the European Securities and Markets Authority, as the top cryptocurrency regulator of the region in the latest draft of MiCA.
The Parliament of the EU has designated ESMA, the European Securities and Markets Authority, the top cryptocurrency regulator of the region in the latest draft of MiCA, the Markets in Crypto Assets regulation. The European organization would have the task of licensing crypto-related institutions and exchanges, putting national regulators under its authority.
by the EU Parliament, assigns the role to ESMA, the European Securities and Markets Authority, undermining the authority of institutions like the Bafin in Germany, or the CNMV in Spain on the subject.This draft mimics the system that the EU also uses for approving banking licenses in the region, where the European Central Bank is the only authority capable of granting or revoking banking licenses to entities inside the system.
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