EU Proposes Centralizing Crypto Regulation Under ESMA Securities Authority

The European Union is advancing plans to consolidate cryptocurrency market supervision under a single regulatory body. A new proposal aims to transfer primary oversight of crypto assets to the European Securities and Markets Authority (ESMA). This initiative seeks to create a more unified regulatory framework across member states, moving beyond the current patchwork of national regulations established by the Markets in Crypto-Assets (MiCA) law. The move is designed to enhance investor protection, ensure market integrity, and provide clearer operational guidelines for crypto companies operating within the EU. Centralizing authority at ESMA is expected to streamline compliance and enforcement, marking a significant step in the bloc's approach to digital finance.