EU Expands ESMA Authority to Uniformly Regulate Crypto Service Providers Under MiCA, Awaiting Parliament and Council Approval

According to Bloomberg, COINOTAG News reports on November 14 that the European Commission is drafting a plan to empower ESMA with a mandate to uniformly regulate all cryptocurrency service providers operating within the European Union. The proposed framework would grant licensing authority to ESMA and, when appropriate, permit delegations to national regulators to ensure consistent supervision across member states.

Under the draft, ESMA would centralize oversight while preserving a degree of national execution, with final approval pending ratification by the European Parliament and the Council of Member States. The 2023 MiCA regime currently allows a single member-state authorization to enable cross-border activity in the EU, a model this plan aims to evolve toward stronger uniformity and risk alignment.

Market participants should monitor regulatory milestones as the move could sharpen compliance expectations, harmonize licensing standards, and reduce ambiguity for operators and investors in the EU crypto market.