ESMA Chair says MiCA focus will shift to supervisory convergence
BIBIBI
AT A GLANCE
ESMA plans to shift its MiCA work focus to supervisory convergence and, in 2027, strengthen CASP coordination and market monitoring.
Article
Chair of the European Securities and Markets Authority:MiCA the focus will shift from rulemaking to supervision
PANews September 29 reported, citing Cointelegraph, that Verena Ross, Chair of the European Securities and Markets Authority (ESMA) said that as MiCA implementation deepens,ESMA will shift the focus of coordination on national crypto regulation from “rulemaking to supervision and convergence.”ESMA listed priorities in its 2027 work plan, planning to strengthen coordination among national regulators in supervising crypto-asset service providers (CASP), with a focus on operational resilience, outsourcing risks, liquidity, reverse solicitation, and asset classification.ESMA also plans to harmonize CASP regular reporting to national regulators, promoting common risk indicators and supervisory dashboards. Meanwhile,ESMA will advance its centralized crypto market monitoring system,MIDAS to monitor potential market abuse under MiCA, with the first phase expected to be fully operational in 2027 and the second phase to...
(Click the link below to read the full article)
🔗https://www.panewslab.com/zh/articles/01a0eab6-85af-741b-9f07-1173c2f1a541
Key points
01
ESMA Chair Verena Ross said that as MiCA implementation deepens, the focus of coordination will shift from “rulemaking to supervision and convergence.”
02
ESMA In 2027 its work plan lists strengthening coordination among national regulators in supervising CASP as a priority.
03
Relevant supervisory coordination priorities include operational resilience, outsourcing risks, liquidity, reverse solicitation, and asset classification.
04
ESMA plans to harmonize CASP regular reports submitted to national regulators and promote common risk indicators and supervisory dashboards.
05
ESMA will advance its centralized crypto market monitoring system MIDAS, to monitor MiCA potential market abuse under
06
The report expects MIDAS the first phase to be fully operational in 2027.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means ESMA work on MiCA will focus more on how countries supervise in practice and maintain consistent approaches, including harmonizing CASP reporting, focusing on specific risks, and using MIDAS to monitor potential market abuse.
Why it matters to readers
If these plans move forward, supervision of CASP by national regulators and reporting practices may become more standardized, with operational resilience, outsourcing risks, liquidity, and asset classification becoming supervisory priorities.
Beginners can watch for whether this leads to more consistent supervision of crypto service providers and market monitoring; the source does not state that any crypto-asset prices will change immediately as a result.
Risks and unknowns
The content was relayed by PANews from Cointelegraph; the evidence does not include the original ESMA work plan.
Several items in the article are plans, and whether they will be implemented on schedule cannot be confirmed from the available evidence.
The source is truncated at the section on MIDAS the second phase, leaving the subsequent arrangements incomplete.
The evidence does not provide information on the impact of these arrangements on the prices of specific crypto-assets or investor demand.
Related Developments
Loading event timeline…
Related concepts
MiCA
This term is not in the glossary yet. Browse related concepts in the glossary.
