ESMA just called for unauthorized crypto service providers to cease operations. Here's what it means for digital asset compliance.

1️⃣ European Central Bank — ECB selects 36 payment service providers to join digital euro pilot
The European Central Bank has officially identified 36 distinct payment service providers to participate in the upcoming technical trials for the digital euro project.
This initiative primarily affects commercial banks and payment firms across the European Union that are developing front-end interfaces for the central bank digital currency.
The selected organizations will now engage in rigorous testing phases to evaluate the interoperability and functionality of various digital payment solutions.

2️⃣ ESMA — ESMA calls on unauthorised crypto-asset service providers to cease operations in an orderly manner
The European Securities and Markets Authority has issued a formal statement requiring all crypto-asset service providers operating without authorization to wind down their activities.
This supervisory action impacts digital asset firms currently providing services in the EU without the necessary MiCA-compliant registrations or local licenses.
Impacted entities are expected to communicate clearly with their clients and finalize their exit from the market to avoid further enforcement penalties.

3️⃣ Bank of England — PRA and FCA propose new captive insurance regime to drive UK growth and competitiveness
The Prudential Regulation Authority and the Financial Conduct Authority have released a joint consultation paper proposing a modernized regulatory framework for captive insurers.
This policy shift hits domestic and international insurance groups looking to leverage the United Kingdom as a competitive hub for internal risk management solutions.
The regulators will collect stakeholder feedback on the proposed prudential standards until the consultation period closes later this year.

4️⃣ Financial Conduct Authority — Streamlined rulebook to save asset managers £128m a year
The Financial Conduct Authority has unveiled a new consultation focused on consolidating its extensive rulebook into a more efficient and less costly regulatory framework.
This development directly affects investment management firms and fund administrators who currently navigate complex and overlapping reporting requirements within the UK.
The FCA intends to use the resulting feedback to finalize a simplified system that reduces operational overhead while maintaining high standards of market integrity.

5️⃣ die medienanstalten (ZAK) — ZAK erlässt erstmalig Bescheide gegen KI-Angebote von Google und Perplexity
The German media regulator has issued its first ever administrative orders against artificial intelligence services provided by major technology firms Google and Perplexity.
These enforcement decisions hit AI developers and technology conglomerates whose generative tools must now comply with regional consumer protection and media regulations.
The regulator will continue to monitor these firms to ensure that their AI models do not violate established legal standards for digital content and cybersecurity.

Full analysis in the attached RegNext Daily Europe Radar carousel.

— Elena Navarro · Managing Editor, RegNext
Daily Europe Radar · Tuesday 14 Jul 2026
#EURegulation #UKRegulation #FinancialRegulation #ComplianceIntelligence