esma2027

ESMA 2027 Work Programme: MiCA Moves from Rules to Supervision
ESMA has published its 2027 priorities.Chair Verena Ross confirmed that the focus under the Markets in Crypto-Assets Regulation is now shifting from rulemaking to supervision and supervisory convergence.
National authorities will apply MiCA more consistently. Crypto-asset service providers can expect closer attention on operational resilience, outsourcing arrangements, liquidity management, reverse solicitation practices, and crypto-asset classification. ESMA will also work toward harmonised reporting, common risk indicators, and better coordination across the EU.
The first phase of the MIDAS market-surveillance system is scheduled to become fully operational in 2027, strengthening the ability to detect potential market abuse. Insights from ongoing supervision will inform the European Commission’s MiCA review expected by June 2027.
This marks a natural next stage after the end of the transitional period. With several hundred CASPs now authorised and the majority of European trading volume already on regulated platforms, the emphasis is on robust, consistent oversight that supports innovation while protecting users and market integrity.
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