ESMA’s New Focus on Crypto Supervision Under MiCA for 2027
- The European Securities and Markets Authority (ESMA) will enhance its coordination of national crypto supervision starting in 2027.
- Key areas of focus include operational resilience, outsourcing risks, and ensuring firms maintain sufficient operations within the EU.
- ESMA Chair Verena Ross stated that the approach is shifting from rulemaking to supervision and convergence.
- The regulator plans to harmonize periodic reporting for crypto asset service providers (CASPs) and promote common risk indicators.
- ESMA aims to have its centralized crypto-market surveillance system, MIDAS, fully operational by the end of the first phase in 2027.
As ESMA transitions towards a supervisory role under the MiCA framework, it aims to provide clarity for firms while safeguarding investors and boosting market confidence.
With a focus on areas such as operational resilience and liquidity, ESMA’s new priorities reflect a significant shift in regulatory strategy for CASPs ahead of its planned review by June MiCA. (Source)
