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The EU will expand regulation of stocks and cryptocurrency exchanges
BlockBeats News, November 2nd, According to FT, the European Commission is currently drafting a plan to expand central oversight of key financial market infrastructures, including stock exchanges, cryptocurrency exchanges, and clearing institutions, in order to reduce regulatory fragmentation in a single market.
The plan will empower the European Securities and Markets Authority (ESMA) to oversee "cross-border critical entities," covering both crypto asset service providers and post-trade infrastructures. Germany is in discussions with France to support the proposal, while countries like Luxembourg and Ireland are concerned that centralizing power will weaken their national financial industry competitiveness. The European Commission is expected to present a formal "market integration plan" in December.
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