ESMA Takes Central Control of EU Crypto Regulation

The European Securities and Markets Authority (ESMA) is set to assume central control over EU crypto markets, impacting businesses operating in the sector. The shift, driven by a regulatory overhaul from the European Commission scheduled for 2025, aims to streamline oversight and unify practices across the EU. This move faces resistance from some smaller EU states concerned about losing national regulatory authority. However, ESMA Chair Verena Ross welcomes the change, arguing it will improve efficiency and reduce redundant efforts.