EU Plans to Enhance Central Oversight of Financial Market Infrastructure

According to Odaily, the European Commission is formulating plans to expand central oversight of key financial market infrastructures, including stock exchanges and crypto asset service providers. The initiative aims to extend the powers of the European Securities and Markets Authority (ESMA) to cover the most significant cross-border entities. This move is part of the EU's 'Capital Markets Union' initiative, which seeks to eliminate regulatory fragmentation and boost the EU's competitiveness. The related proposals are expected to be presented in December as part of the 'Market Integration Package.'