Summary: The government of France has proposed that the European Securities and Market Authority, or ESMA, should regulate digital currency activity across the European Union. The AMF’s proposal states:“Likewise, granting ESMA the power of direct supervision of public offers of crypto-assets in the EU (scrutiny of white papers) and of crypto-asset service providers would create obvious ...

The government of France has proposed that the European Securities and Market Authority, or ESMA, should regulate digital currency activity across the European Union.

The AMF’s proposal states:“Likewise, granting ESMA the power of direct supervision of public offers of crypto-assets in the EU (scrutiny of white papers) and of crypto-asset service providers would create obvious economies of scale for all national supervisors and concentrate expertise in an efficient way, for the common European benefit.”

If enacted, this would establish a single authority over the crypto sector across the trading bloc and would create uniform regulations across the union through ESMA.

By Amy Liu