An Oct. 29 European Securities and Markets Authority (ESMA) register snapshot listed 188 entries, including 179 attributed to Italy’s securities regulator, a count of submissions rather than all unauthorized activity. That regulator is the Commissione Nazionale per le Società e la Borsa (CONSOB).
CONSOB accounted for 95.2% of the entries. The other nine were attributed to Belgium’s authority, with six, and authorities in the Czech Republic, the Netherlands and Slovakia, with one each.
The register of non-compliant entities providing crypto-asset services is separate from ESMA’s list of authorized providers. The European Union’s Markets in Crypto-Assets Regulation (MiCA) defines the noncompliance register as non-exhaustive. Its country totals count entries in the register; they do not show how unauthorized activity is distributed among countries.
ESMA receives register information from national competent authorities and the European Banking Authority. The entries therefore reflect information added to the register, not a complete count of firms serving clients without authorization in each country.
The MiCA transition period ended July 1, 2026. ESMA said any entity providing crypto-asset services to EU clients without a MiCA licence “will be in breach of EU law and must cease offering such services.”
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to [email protected].
