🤔 Europe: crypto company oversight under MiCA may become centralized

🤔 Europe: crypto company oversight under MiCA may become centralized

Cryptocurrency regulation has once again taken center stage in the European agenda. This time, it is under EU scrutiny, as member states face conflicts over cross-border licensing and fragmented supervision of the market.

For instance, France🇫🇷 is considering restricting crypto exchanges and operators licensed in other European countries from providing services within its territory — a move that challenges the idea of a unified regional market.

➡️ The main point of contention lies in the lack of consistency in licensing standards.

➡️ The European Securities and Markets Authority (ESMA) is expected to assume the role of the primary regulator. The European Commission is currently considering granting it supervisory authority across multiple financial sectors, including cryptocurrencies.

➡️ Context: smaller nations have been particularly active in this area. Earlier this year, Lithuania🇱🇹 issued the first license to discount broker Robinhood Europe, while Malta🇲🇹 authorized major exchanges such as OKX and Crypto.com. In Luxembourg🇱🇺, Bitstamp and Coinbase received MiCA licenses.

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