The European Union is contemplating a shift in its cryptocurrency regulatory framework by potentially moving supervision under the European Securities and Markets Authority (ESMA). This move aims to streamline oversight and reduce regulatory friction across the region. The Markets in Crypto-Assets (MiCA) regulation, which has been pivotal in shaping the EU's crypto landscape, is under review to assess its effectiveness and address areas where adoption has been sluggish. Centralizing oversight could enhance regulatory consistency and efficiency for crypto firms operating within the EU.