The European Commission wants ESMA to take full control over all crypto licensing and supervision across the EU.
This could reshape the entire market:
• One supervisor for every CASP • Slower approvals if ESMA gets overwhelmed • Risk of pushing startups out of Europe • A stronger institutional framework, but at a cost
This is the biggest regulatory shift since MiCA … and it might decide whether Europe becomes a crypto hub or the industry's slowest market.