The European Commission is reportedly planning to enhance the oversight of key financial infrastructures in the region, including stock exchanges, cryptocurrency platforms, and clearing houses. This initiative aims to reduce market fragmentation and enhance the global competitiveness of the European Union.
According to the proposal, the European Securities and Markets Authority (ESMA) will be granted additional powers similar to those of the U.S. Securities and Exchange Commission (SEC), directly overseeing large cross-border organizations such as digital asset service providers and post-trade systems. This centralized mechanism is seen as an important step towards completing the EU Capital Markets Union, increasing transparency, protecting investors, and providing a more consistent response to financial risks within the bloc.
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The EU is moving towards a centralized financial supervision mechanism to increase market competitiveness.
The European Commission is reportedly planning to enhance the oversight of key financial infrastructures in the region, including stock exchanges, cryptocurrency platforms, and clearing houses. This initiative aims to reduce market fragmentation and enhance the global competitiveness of the European Union.
According to the proposal, the European Securities and Markets Authority (ESMA) will be granted additional powers similar to those of the U.S. Securities and Exchange Commission (SEC), directly overseeing large cross-border organizations such as digital asset service providers and post-trade systems. This centralized mechanism is seen as an important step towards completing the EU Capital Markets Union, increasing transparency, protecting investors, and providing a more consistent response to financial risks within the bloc.