European Union Member States Call on European Union Lawmakers to Give the European Securities and Markets Authority the Power to Regulate Crypto Firms

Regulators in France, Italy and Austria have called on European Union lawmakers to give the European Securities and Markets Authority the power to regulate crypto companies. The European Union's new crypto regulatory regime has raised concerns that member states have different standards for issuing licenses. Chairperson of the French financial marekt authority: Due to concerns about the loose standards for issuing crypto licenses, it may affect the "passport right of passage" of crypto companies (if you get a license in one European Union country, you don't need to apply for a license in other member states).