The European Commission has proposed expanding the European Securities and Markets Authority’s (ESMA) regulatory powers over cryptocurrencies and capital markets, aiming to narrow the competitive gap with the United States. According to the proposal, ESMA would directly supervise key market infrastructure—including crypto asset service providers, trading venues, and central counterparties—and strengthen its coordinating role in the asset management sector. The proposal still requires approval from the European Parliament and the Council and is currently under negotiation. If approved, ESMA’s regulatory role would become more similar to the centralized framework of the US Securities and Exchange Commission (SEC). (Cointelegraph)