Esma to take on oversight of crypto and stock exchanges
The EC is planning to move regulation of cryptocurrency firms, stock exchanges and clearing houses from national watchdogs to the European Securities and Markets Authority (Esma).
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Esma chair Verena Ross told the Financial Times that the move is designed to build “a capital market in Europe that is more integrated and globally competitive,” and address “continued fragmentation in markets”.
For crypto the switch would align with Europe’s Markets in Crypto-Assets (MiCA) framework which currently sees national authorities issue licenses.
Earlier this year, Esma criticised the process used by…
