The European Commission plans to grant the European Securities and Markets Authority (ESMA) direct supervisory authority over both stock and cryptocurrency exchanges. The initiative aims to harmonize fragmented national regulations and create a unified capital market across the European Union.
Under the proposal, ESMA would oversee trading infrastructure and crypto-asset service providers, establishing a single framework for both traditional and digital assets. Officials say the move will improve transparency, investor protection, and access to cross-border capital.
Industry participants have expressed mixed reactions, warning that centralization could raise compliance costs and limit innovation for startups. Regulators argue the reform is essential to enhance Europe’s competitiveness in global financial markets.