“From Authorization to Supervision”: European Regulators Outline the Next Phase of MiCA as MERGE Madrid 2026 Concludes

Following Tuesday’s Institutional Summit astatine the Bolsa de Madrid and Wednesday’s opening of the main conference, the last time focused connected integer plus regulation, concern opportunities, and emerging blockchain applications. Across aggregate stages, attendees participated successful discussions alongside startup presentations, an progressive accumulation area, and networking activities that continued passim the day.

European regulators outlined the adjacent priorities for integer plus oversight, with representatives from the European Banking Authority (EBA) and nationalist fiscal authorities discussing however Europe’s Markets successful Crypto-Assets Regulation (MiCA) should evolve.

“In presumption of priorities, we’re shifting from authorization to supervision,” said Desislava Petrova, Senior Supervision Officer astatine the EBA, during a treatment comparing MiCA with the United States’ GENIUS Act. She emphasized the request for supervisors to speech accusation much efficiently arsenic integer plus businesses grow crossed borders.

The aforesaid taxable emerged successful a abstracted sheet featuring representatives from Spain’s CNMV, Portugal’s CMVM, Italy’s Consob, and Luxembourg’s CSSF. “We request a communal supervisory language,” said Irene Tagliamonte, Head of the Regulatory Impact Analysis Office astatine Consob, pointing to the request for accordant reporting standards and person practice betwixt nationalist authorities.

Natasha Deloge, Head of Innovation Division astatine Luxembourg’s CSSF, called for faster responses to unauthorized operators targeting European customers, portion the treatment besides examined the ineligible differences that proceed to complicate cross-border trading and colony of tokenized securities.

The day shifted toward concern and the maturation of tokenized fiscal markets. Victor Sáez of Kraken highlighted the enlargement of xStocks, whose tokenized equity products person surpassed $1 cardinal successful assets nether management. He besides reported that much than 60% of trading measurement takes spot extracurricular accepted marketplace hours, reflecting request from investors seeking entree to US equities crossed antithetic clip zones.

But bringing fiscal assets onto blockchain networks does not automatically make demand. “If the underlying plus has nary demand, request is not going to amusement up due to the fact that you tokenize it,” Sáez said, emphasizing the value of established markets, distribution, and liquidity.

In the aforesaid discussion, Matt Ward, Executive Director for Europe astatine Hashgraph, identified connectivity betwixt blockchain networks arsenic different challenge. “The buyers are there, but they are conscionable connected a antithetic chain, the incorrect currency, their collateral is locked up determination else,” helium said, asserting that amended connections betwixt networks could assistance amended secondary-market activity.

Other concern discussions featured Hamilton Lane, BNP Paribas Securities Services, Allfunds Blockchain, and Tether. BNP Paribas outlined its enactment processing services for tokenized funds successful Luxembourg, France, and Italy, portion Hamilton Lane discussed opportunities to amended entree to backstage marketplace investments.

A dedicated Tokenization Track sponsored by Hadron by Tether examined the improvement of tokenized wealth marketplace funds, integer securities, and the systems required to enactment trading and settlement. The day besides included a treatment connected task superior concern successful Web3, exploring the opportunities and challenges facing startups seeking funding.

Emerging companies had a salient relation successful the last day’s programming, including a showcase supported by Madrid City Council. Micelio Data presented verified information infrastructure for textile proviso chains; Tsamurai outlined its level for fan-funded originative projects; and Wemsys highlighted its enactment connected blockchain security, analytics, and compliance.

The league hosted ISBE successful Pitch, featuring startup presentations connected to the Infraestructura de Servicios Blockchain de España (ISBE), supported by the Comunidad de Madrid. Alongside a wider programme of startup spotlights, these initiatives offered opportunities for entrepreneurs to contiguous their enactment and link with imaginable partners and investors.

MERGE besides explored blockchain applications beyond fiscal services, including a league featuring Chiliz and CD Leganés connected the aboriginal of sports and instrumentality engagement.

Iván Maroto, Chief Business Officer astatine CD Leganés, described however the shot nine has linked integer tokens to sections of its pitch, allowing supporters to person rewards erstwhile definite lucifer events hap successful their assigned areas.

“It’s much what we are doing with the token than the token itself,” Maroto said, emphasizing that caller products indispensable connection fans meaningful benefits.

Julian La Picque, CFO of Chiliz, besides discussed plans to grow beyond accepted instrumentality tokens into products linked to nine equity and stadium financing, perchance creating caller ways for supporters to enactment financially successful their favourite teams.

Yesterday’s discussions capped 3 days that brought unneurotic fiscal institutions, regulators, investors, startups, and exertion companies. Throughout the conference, accumulation booths and dedicated networking activities provided opportunities for participants to physique relationships and research commercialized partnerships.

From the adoption of integer assets by accepted banks to the aboriginal of European regulation, investment, and emerging applications, MERGE Madrid 2026 highlighted an manufacture progressively focused connected making blockchain exertion enactment successful practice.

About MERGE

MERGE is the starring organization level for integer assets, blockchain and Web3 connecting Europe and Latin America. Through its events successful Madrid, Buenos Aires and São Paulo, it brings unneurotic banks, regulators, corporations, investors, fintech firms, startups and digital-native companies to foster collaboration and the improvement of caller concern models.

More information, docket and tickets: MERGE Madrid 2026

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