Consob Dominates ESMA Crypto Registry with 98.8% of Submissions

A recent analysis of the ESMA's non-conformant crypto providers registry revealed that 98.8% (165 out of 167 records) were submitted by Italy's Consob, a stark contrast to the misconception that 99% of Europe's illicit crypto exchanges are Italian.

The dataset, updated on August 21, 2026, includes 167 records of non-conformant providers. The overwhelming majority (165) came from Consob, with only two submissions from the Netherlands Authority for the Financial Markets and one from the National Bank of Slovakia. This disparity highlights the fragmented enforcement landscape across Europe.

The ESMA registry is a non-exhaustive list of providers that have not complied with MiCA regulations. Being included in the list does not necessarily mean an entity is based in Italy or has engaged in illicit activities, but rather that it has been reported by a national authority.