Peter Kerstens noted that during the adoption of the bill, a few large assets dominated the crypto market. However, the ecosystem has matured, and policymakers need to reassess the concept's alignment with changes in market structure. Kerstens also suggested that participants in the crypto market contribute their proposals to adjust the rules. He warned that if regulation does not evolve alongside innovations, it will create legal uncertainty. The MiCA regulation includes a procedure for reviewing rules. The regulation requires the Commission to present a report by June 30, 2027. It also allows them to make legislative proposals. Last week, the ECB supported the move for crypto platforms to fall under the jurisdiction of the European Securities and Markets Authority (ESMA).