🇪🇺 THE EUROPEAN UNION WANTS A SINGLE SUPERVISOR FOR FINANCIAL MARKETS 🇪🇺
According to the Financial Times, the European Commission is working on a plan to create a single central supervisory authority for European financial markets, including stock exchanges, clearing houses, and even cryptocurrency exchanges.
The goal is to reduce the regulatory fragmentation that still divides individual member states and strengthen the Union's competitiveness against American and Asian markets.
The project aims to transform ESMA (European Securities and Markets Authority) into a true organization similar to the U.S. SEC, with direct supervisory powers over major financial infrastructures operating cross-border.
This reform would standardize regulation for operators offering trading, custody, and post-trade services in multiple countries, such as crypto-asset service providers (CASP) and clearinghouses.
For the cryptocurrency sector, the initiative represents a decisive step towards unified management of the European market: a single authority with control powers over the most relevant platforms could ensure greater transparency, reduce inefficiencies, and better protect investors.
In perspective, the expansion of ESMA's powers marks a significant advancement in building the Capital Markets Union, a key project for Europe's economic sovereignty.
A more integrated and less fragmented market could become the foundation for a more robust, competitive financial ecosystem suited to new global challenges.