The European Central Bank endorsed a more centralized model for cryptocurrency supervision in the European Union, pointing out that crypto asset service providers have been operating across borders from the start, and should not be supervised by a patchwork of national regulatory agencies. This stance reinforces the need for a greater role for the European Securities and Markets Authority within the EU’s (MiCA) Capital Markets Law, and for broader reforms in market oversight.

Why does the European Central Bank support a crypto supervision model led by the European Securities and Markets Authority?
In a blog post by the European Central Bank dated March 30, 2026, the ECB endorsed integrated oversight of EU capital markets and stated that all crypto asset service providers, or CASPs, should be subject to EU supervision because they are inherently cross-border operators.