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The European Commission plans to create a single regulator overseeing crypto and stock exchanges.
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The proposal would expand the European Securities and Markets Authority (ESMA).
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The move aims to help firms scale across EU borders with unified oversight.
A Push for Unified Financial Supervision
The European Commission, backed by ECB President Christine Lagarde, is preparing a proposal to establish an SEC-style supervisor overseeing crypto exchanges, stock markets, and clearing houses.
Expanding ESMA’s Role
One plan under consideration would extend the authority of ESMA to cover cross-border financial entities. The goal: create a capital markets union to streamline licensing and reduce regulatory fragmentation across Europe.
Resistance from Smaller Hubs
Finance hubs such as Luxembourg and Dublin have voiced opposition, fearing smaller nations may lose influence under a centralized model.
Next Steps in the Legislative Process
If presented in December, the plan will enter EU parliamentary review and trilogue negotiations through 2026. The package will likely coincide with other initiatives, including proposals on tokenized assets and the digital euro CBDC.
