ESMA shifts 2027 crypto agenda to coordinated supervision

The European Securities and Markets Authority (ESMA) will make coordinated supervision of crypto-asset service providers a priority in 2027, shifting its focus under the Markets in Crypto-Assets Regulation (MiCA) from rulemaking toward consistent oversight across the European Union. In its 2027 work programme, ESMA said it would coordinate with national regulators on operational resilience, outsourcing, liquidity, reverse solicitation, crypto-asset classification and whether firms maintain sufficient operations within the bloc. ESMA Chair Verena Ross described the change as a move from rulemaking toward supervision and convergence during a meeting of the European Parliament’s Economic and Monetary Affairs Committee. The regulator also plans to promote harmonized periodic reporting by crypto-asset service providers, common risk indicators and supervisory dashboards for national authorities. The measures are intended to help regulators apply MiCA more consistently across countries. The programme sets out coordination plans; it does not specify the enforcement actions or outcomes that will result.