ESMA: Next Major Task is Ensuring Crypto Giants Don't Ignore MiCA Regulations
European Securities and Markets Authority (ESMA) officials stated they are working to ensure landmark cryptocurrency legislation is uniformly implemented across the 27-nation bloc. Binance's corporate structure poses challenges to traditional European regulatory procedures. ESMA is focusing on preventing conflicts of interest highlighted in the FTX case from occurring when MiCA goes live in 2024. EU regulators now face their next major task: ensuring giants like Binance don't ignore MiCA regulations.
European Securities and Markets Authority (ESMA) officials stated they are working to ensure landmark cryptocurrency legislation is uniformly implemented across the 27-nation bloc. Binance's corporate structure poses challenges to traditional European regulatory procedures. ESMA is focusing on preventing conflicts of interest highlighted in the FTX case from occurring when MiCA goes live in 2024. EU regulators now face their next major task: ensuring giants like Binance don't ignore MiCA regulations.
Benjamin Burlat, senior policy officer of ESMA's Digital Finance and Innovation team, stated, "When it comes to large companies like Binance, one aspect we're concerned about is ensuring MiCA rules are implemented consistently across member states."