The EU seeks to transfer cryptocurrency regulatory authority to the European Securities and Markets Authority.

According to Odaily Planet Daily, the European Commission plans to transfer regulatory authority over cryptocurrency companies to EU market regulators as part of a package of measures to "fully integrate" financial markets.

The European Commission stated that bringing cryptocurrency regulation under the mandate of the European Securities and Markets Authority (ESMA) will make regulation more effective and facilitate cross-border activities. This move aims to address the fragmentation caused by differences in regulatory approaches among the 27 member states. Previously, individual national regulators, including the French AMF, Austrian FMA, and Italian Consob, had raised concerns about the implementation of MiCA and requested stronger controls from the ESMA. The proposal still requires negotiation and approval by the European Parliament and the European Council.