MiCA Supervisory Discrepancies: France, Austria, and Italy Call for Strengthened EU Regulations

On the 15th, regulatory authorities from France, Austria, and Italy expressed concerns about national-level supervisory discrepancies that have emerged in the early stages of the EU's cryptocurrency regulation, MiCA, and called for stronger EU-level supervision through a joint statement. The French Autorité des Marchés Financiers (AMF), the Austrian Financial Market Authority (FMA), and the Italian Securities and Exchange Commission (Consob) pointed out that, a few months after the implementation of MiCA, significant differences in the supervisory methods of virtual currency markets by national authorities have become apparent. They warned that if the supervisory framework is not swiftly reviewed, member states might impose their own preventive measures against operators authorized in other countries, potentially leading to regulatory fragmentation.