ESMA Publishes 2027 MiCA Regulatory Priorities, Focusing on CASP Resilience, Outsourcing, and Reverse Solicitation

Odaily News: The European Securities and Markets Authority (ESMA) has published its 2027 work program, which will coordinate national supervision of crypto asset service providers (CASPs), with a focus on operational resilience, outsourcing risks, liquidity, reverse solicitation, and asset classification.

ESMA Chair Verena Ross stated that MiCA's focus has shifted from rule-making to supervision and convergence. ESMA plans to harmonize the periodic reporting that CASPs submit to national regulators and promote common risk indicators and supervisory dashboards.

ESMA will advance MIDAS, a centralized crypto market monitoring system, to monitor potential market abuse under the MiCA framework. The first phase of the system is expected to be fully operational by 2027.

ESMA plans, after obtaining Board approval, to add analytical functions to MIDAS and expand the types of usable data in the fourth quarter, while incorporating supervisory experience into the European Commission's MiCA review, which is expected to be completed by June 2027. (Cointelegraph)