EU Regulators Push for Sharper Teeth in Crypto Oversight

The European Securities and Markets Authority (ESMA) is urging regulators across the EU to get stronger enforcement powers when it comes to crypto oversight. This comes as Brussels works through a review of the Markets in Crypto Assets Regulation, or MiCA.

According to ESMA, national watchdogs and ESMA itself need broader authority to enforce the bloc's crypto rulebook. They argue that current tools are too slow to stop scams, money laundering, and unauthorized trading before damage is done.

The proposal includes giving regulators the power to order crypto firms to freeze assets suspected of being linked to crime or money laundering. National regulators could also gain authority to take down websites tied to scams or unauthorized crypto companies.