ESMA Demands Tougher Crypto Regulations

The European Securities and Markets Authority (ESMA) has called for expanded powers to enforce EU crypto regulations, citing the need for faster action against suspected criminal activity.

In its response to the European Commission's public consultation on reviewing the Markets in Crypto-Assets Regulation (MiCA), ESMA warned that potential threats tied to money laundering or terrorist financing can slip away before regulators are able to take any action at all.

To close this gap, ESMA is calling for the power to freeze crypto assets on 'reasonable grounds' linked to financial crimes. It also wants national competent authorities to have the ability to block websites connected to scams.