Financial Times: EU to Expand Regulation of Stock and Cryptocurrency Exchanges

The European Commission is developing plans to expand central oversight of key financial market infrastructure, targeting stock exchanges and crypto asset servicers. Under the plan, the European Securities and Markets Authority (Esma) will have its powers expanded to cover “the most important cross-border entities.” This move is part of the EU’s “Capital Markets Union” initiative, aimed at eliminating regulatory fragmentation and enhancing the EU’s competitiveness. The proposals are expected to be presented in December as part of a “market integration scheme.” (Financial Times)