ChainCatcher news, the European Commission is formulating plans to expand central supervision over key financial market infrastructures, targeting stock exchanges and crypto asset service providers.
According to the plan, the powers of the European Securities and Markets Authority (Esma) will be expanded to cover "the most important cross-border entities." This move is part of the EU's "Capital Markets Union" initiative, aimed at eliminating regulatory fragmentation and enhancing the EU's competitiveness. The relevant proposals are expected to be presented in December as part of the "Market Integration Package."