EU Central Banks Push for Stricter Crypto Oversight

European central banks have called for changes to the EU's Markets in Crypto-Assets Regulation (MiCAR) as policymakers review rules governing stablecoins, crypto intermediaries, and tokenised bank money.

In a response to the European Commission's MiCAR review, the European System of Central Banks backed stronger oversight of crypto asset service providers, including greater centralisation of authorisation and supervision at the European Securities and Markets Authority (ESMA).

This move is aimed at enhancing investor protection and preventing potential risks associated with the growing crypto market.