EU Less Likely to Battle Over Crypto Regulator
— Regulation, Supervision, Regulator, Crypto, Likely, Battle, Securities, Esma, Authority, Regulators, Eba, Mica, Assets — 1 min read
The European Securities and Market Authority (ESMA) has been chosen by the European Parliament as the top cryptocurrency regulator of the region. ESMA will grant crypto licenses for organizations that would like to provide services in Europe, instead of the national regulators as it was foreseen in previous drafts. MiCA will apply to stablecoins, e-money tokens and utility tokens, but it is in this space, stablecoins and e-Money tokens where the supervision will be shared between ESMA and the European Banking Authority (EBA) Even the ECB could intervene to draft guidelines to regulate these types of stablecoins. In June, EBA advanced as a priority for 2022 to “continue preparing for the supervision and policy tasks under MiCA” Source