The European Commission is drafting plans to expand central oversight of key financial market infrastructure, targeting stock exchanges and crypto-asset service providers. Under the plan, the powers of the European Securities and Markets Authority (Esma) would be expanded to cover "the most important cross-border entities."


The move is part of the EU's "Capital Markets Union" initiative, which aims to eliminate regulatory fragmentation and boost EU competitiveness. The relevant proposal is expected to be presented in December as part of the "Market Integration Package.
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