European Central Bank Backs ESMA Crypto Supervision, Consolidating 27 National Licensing Regimes

The European Central Bank (BCE) officially supported a proposal to transfer supervision of crypto-asset service providers (PSAN) to the Autorité européenne des marchés financiers (ESMA) within the EU, according to Cryptonews.

“The European Central Bank (ECB) has reportedly intervened to prevent Binance from obtaining a Markets in Crypto-Assets (MiCA) license in Greece, according to a source cited by The Block’s Gareth Jenkinson”

Bitcoin World

Cryptonews says the project would merge 27 fragmented national licensing regimes into a single enforcement framework based in Paris, and that the BCE’s position was issued in response to the Commission européenne’s 2025 capital markets package (COM/2025/941, 942, 943).

Bitcoin World

Cryptonews also reports that the BCE wants a seat on the ESMA board without voting rights for PSAN discussions, plus direct access to data and risk-sensitive capital requirements for crypto firms.

The same article says MiCA’s transition periods expire in the first quarter of 2026 and that ESMA’s expanded competences would likely be introduced progressively alongside assessments of importance by the ABE.

Cryptonews frames the stakes as a potential loss of competitive differentiation for member states that built crypto licensing ecosystems around the MiCA model of national competent authorities (ANC).

As MiCA’s July 1, 2026 deadline approaches, multiple outlets describe Binance’s Greece licensing path as wobbling after reports that the Hellenic Capital Market Commission (HCMC) is preparing to reject its application for a Crypto Asset Service Provider (CASP) license.

CryptoSlate says only 194 of more than 3,000 crypto companies operating in Europe have obtained a license, and it links that shortfall to fears that millions of users could lose access to regulated services once the transition period ends.

Cointelegraph

Cointribune’s account adds that the HCMC invoked confidentiality obligations to refuse official comment, leaving the market uncertain just days before the regulatory deadline.

CryptoSlate reports that Binance is seeking a path through France while Tether’s USDT has already been pushed off licensed venues, with outcomes remaining unsettled.

CryptoSlate also quotes Alex Obchakevich of Obchakevich Research saying only 194 of more than 3,000 crypto companies operating in Europe have obtained a license, and it warns that the deadline could disrupt crypto access for millions of users before compliant alternatives absorb the market.

The Binance licensing dispute has also been tied, in reporting, to the ECB’s stance on stablecoins and to the digital euro agenda, with multiple outlets arguing that the ECB’s role may extend beyond formal advisory limits.

“Home»News»Exchange News The relentless countdown to alignment with European regulations has just passed a critical phase that could redefine the map of exchange platforms within the European Union”

Cointribune

CryptoRank says the opposition to Binance’s Greece MiCA bid was spearheaded by ECB President Christine Lagarde and frames France as Binance’s “last hope” before the July 1, 2026 deadline.

Cryptonews similarly describes BCE pressure for “plafonds sur les jetons de monnaie électronique” used as settlement assets in the absence of central bank money, calling it a direct constraint on euro-backed stablecoin expansion.

Cointelegraph’s reporting quotes lawyer David Lesperance saying “nothing in the MiCA framework would prevent a third party like the ECB from offering its opinion to that national authority,” while also noting that MiCA explicitly defines ECB involvement in certain stablecoin parts rather than CASP licenses.

Cointelegraph adds that Lagarde has argued Europe should prioritize regulated settlement systems rather than rely on private stablecoins, and it says ECB Executive Board member Isabel Schnabel has warned stablecoins could reinforce US dollar dominance.