Crypto-assets need common EU-wide approach to ensure investor protection | SpinGraph: Regulatory blame shift
SpinGraph analysis of ESMA Crypto / Fintech's Crypto-assets need common EU-wide approach to ensure investor protection story: regulatory blame shift, The Shiel…
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Crypto-assets need common EU-wide approach to ensure investor protection - | European Securities and Markets Authority
crypto-assets, investor protection, ESMA, MiCA, regulatory harmonization
ESMA urges unified EU rules for crypto-assets Primary goal is consistent investor protection across member states Fragmentation and regulatory arbitrage are identified as systemic vulnerabilities
Emphasizes external coordination challenges while minimizing ESMA’s own mandate, past guidance, or capacity to act under existing powers; avoids naming specific jurisdictions or firms where failures occurred.
Technical stewardship — ESMA as the rational, system-aware regulator preventing market dysfunction through standardization.
ESMA says crypto-assets need EU-wide regulation to protect investors.
No mention of divergent national enforcement records; No data on actual investor losses attributable to jurisdictional gaps; No reference to private-sector self-regulation initiatives already underway
Combines institutional authority (ESMA’s statutory role) with abstract systemic language ('fragmentation', 'arbitrage') to make regulatory incoherence feel like an objective condition rather than a series of deliberate choices; the claim of necessity feels larger than warranted because no counter-evidence or alternative pathways (e.g., enhanced cooperation without harmonization) are acknowledged, creating tension between the sweeping diagnosis and the absence of diagnostic evidence.
Crypto-assets need common EU-wide approach to ensure investor protection
Extracted statistics from the source narrative
Proposed approach covers all 27 member states