EU Council Targets Most Significant Crypto Providers for ESMA Oversight
Photo: TokenPost
The European Union’s Council agreed Oct. 9 to place the most significant cross-border crypto-asset service providers under direct supervision by the European Securities and Markets Authority, tightening oversight across national markets. The approach would narrow the current passporting system under the Markets in Crypto-Assets Regulation, or MiCA. The system allows a provider authorized in one EU member state to serve customers across the bloc without separate approval in every country. Most providers would remain under national regulators. The announcement was issued at 5:40 a.m. ET (9:40 a.m. UTC) on Oct. 9. The negotiating position does not immediately change MiCA requirements.
Source: TokenPost
