The European Union (EU) is reportedly planning to shift oversight power of key financial market areas, including crypto, from national authorities to a centralized supervisory authority to help boost the bloc’s capital markets and harmonize regulation.

EU Eyes Centralized Crypto Market Oversight

On Monday, Verena Ross, chair of the European Securities and Markets Authority (ESMA), affirmed that the regulation of stock exchanges, crypto companies, and clearing houses in the EU will likely be transferred to the bloc’s market watchdog.

Ross told the Financial Times that the European Commission is preparing new rules that would shift the supervision of several areas of EU financial markets from national authorities to ESMA, to push for “a capital market in Europe that is more integrated a

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