Euro-area banks’ requests for crypto licenses need to be made more consistent given the divergence of crypto laws within the region, the European Central Bank said in its annual report published Tuesday.

A number of license requests are coming from technology-driven banks, and the supervisor wants to impose more control over a fragmented system.

Most applications for crypto-driven banks came from Germany because of requirements under national law, and one came from Luxembourg, the ECB said.

While national supervisors such as Germany’s BaFin are responsible for monitoring smaller banks that lie within their borders, the ECB has the final right to decide whether to grant or withdraw a license.

(By Jack Schickler)