EU Regulator ESMA Seeks Direct Control of Crypto Supervision in Power Consolidation

Reading Time: < 1 minute

The European Union’s markets watchdog is moving to bring the cryptocurrency sector under its direct control, a significant power grab that would end the current era of national oversight.

The European Securities and Markets Authority (ESMA) is pushing for centralized authority over crypto exchanges to create a more cohesive regulatory environment under the MiCA framework.

ESMA Chair Verena Ross confirmed the plans, telling the Financial Times that the shift is part of a broader effort to build a “more integrated and globally competitive” financial landscape.

The proposal directly challenges the current system where national regulators in smaller states like Lithuania, Malta, and Luxembourg have been the primary issuers of licenses to major crypto firms, including Robinhood, OKX, and Coinbase.