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EU Banking Regulator Worries It Can’t Find the Staff to Regulate Crypto: Report
José Manuel Campa, chair of the European Banking Authority, told the Financial Times he is worried the agency does not yet have the capacity to supervise digital assets.
Updated May 11, 2023, 3:35 p.m. Published Jul 27, 2022, 8:43 a.m.
The European Union’s banking regulator is worried about how it will enforce new crypto rules that are expected to take effect by 2025, according to the Financial Times.
European Banking Authority Chair José Manuel Campa said the agency does not yet have the capacity to supervise digital assets. A major concern is hiring and retaining the specialized staff required because there is a high demand for crypto talent, he told the FT in an interview published Wednesday.
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The EU recently finalized its Markets in Crypto Assets (MiCA) legislation, which has a heavy focus on stablecoins and will be applied across all 27 member nations. There is still a long journey before the details are put into law. Once they are, some details will need to be fleshed out and more rules could come. Campa told the FT that in three years crypto may have "moved and transformed into other uses that I cannot anticipate."
The EBA is worried about planning the logistics of enforcing its new powers because it won’t know which cryptocurrencies it will supervise till 2025 nears, Campa told the FT.
"My concern is more about making sure the risk we have identified ... is properly managed. If we don't do as well as we should have, we'll have to live with the consequences," he said.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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