ESMA says MiCA focus shifts from rulemaking to supervision

The focus of the EU’s Markets in Crypto-Assets regulation has shifted from rulemaking to supervision and ensuring regulatory consistency, ESMA Chair Verena Ross said at the European Parliament’s Committee on Economic and Monetary Affairs, according to Cointelegraph. ESMA plans in 2027 to prioritize oversight of crypto asset service providers’ operational resilience, outsourcing risks and liquidity. The regulator also plans to standardize reporting criteria across countries and launch the first phase of a market abuse surveillance system for the crypto market.