EU Moves Toward a ‘European SEC’ for Crypto

[johnblockbuster]

The European Commission has proposed giving the European Securities and Markets Authority (ESMA) far greater power over crypto and financial markets. The plan would shift supervision of major crypto-asset service providers, trading venues and even central counterparties directly to ESMA — creating a more centralized system similar to the U.S. SEC.

France, Italy, and Austria have already pushed for ESMA to take charge following concerns about uneven national regulations. If approved, this move could streamline oversight but also raise worries about slower innovation for smaller crypto and fintech companie

[Nahid Hossen]

The idea of a European SEC shows how seriously the EU is taking crypto regulation.

[Rimon Khan]

A single supervisory body could simplify licensing for crypto companies.