EU Plans Centralized Crypto Oversight Sparking Industry Backlash
The proposal would grant ESMA direct supervisory powers over stock exchanges and crypto service providers, potentially creating a centralized regulatory framework.
The European Commission is exploring expanded authority for the European Securities and Markets Authority over cryptocurrency and capital markets. The proposal would grant ESMA direct supervisory powers over stock exchanges and crypto service providers, potentially creating a centralized regulatory framework similar to the U.S. Securities and Exchange Commission. The European Commission is expected to publish a draft of the plan in December.
Industry critics warn the plan could stifle innovation and slow decision-making processes. Faustine Fleuret, head of public affairs at…
