ESMA Says MiCA Is Shifting From Rulemaking to Oversight, Regulatory Consistency
JH Kim
Summary
- The European Securities and Markets Authority, or ESMA, said it will shift MiCA's focus from rulemaking to oversight and regulatory consistency.
- ESMA said it plans to focus its oversight through 2027 on the operational resilience, outsourcing risks and liquidity of crypto-asset service providers.
- ESMA said it will standardize reporting requirements across member states and launch the first phase of a system to monitor suspicious trading in the crypto market.
Forecast Trend Report by Period
The European Securities and Markets Authority said the focus of the European Union's Markets in Crypto-Assets regulation, or MiCA, is shifting from rulemaking to supervision and regulatory consistency.
Verena Ross, chair of ESMA, made the remarks at the European Parliament's Committee on Economic and Monetary Affairs, Cointelegraph reported on Sept. 28.
ESMA plans to focus in 2027 on overseeing the operational resilience, outsourcing risks and liquidity of crypto-asset service providers.
It also plans to standardize reporting requirements across member states and launch the first phase of a system to monitor suspicious trading in the crypto market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.