The European Commission is evaluating a draft proposal to create a regulatory body similar to the US SEC to oversee crypto exchanges.

According to the Financial Times, the restructuring of the financial supervision framework in the bloc, to be presented next month, envisions “granting the European Securities and Markets Authority (ESMA) direct power to supervise both traditional stock exchanges and cryptocurrency exchanges operating in the 27 countries of the European Union.”

ESMA would then oversee Crypto Asset Service Providers (CASPs), trading platforms, and other financial infrastructure focused on crypto trading. It would also have the capacity to “resolve disputes between asset managers, a function that is currently fragmented among national regulators.”

According to Verena Ross, ESMA’s chairperson, this proposal aims to end the fragmentation of the European market and “move towards a unified capital system, strengthening coherence between the various national regulatory frameworks.”

The cryptocurrency trading regulation project is a response to the regulatory vacuum identified after the launch of the Markets in Crypto-Assets (MiCA) Act, which came into effect in December. 2024.

M.Pino

Source: cripto247

(Reference image source: Carl Campbell on Unsplash)

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La entrada The European Union could create a regulator to oversee crypto exchanges apareció primero en Bitfinance.

France is working on the creation of an entity that regulates cryptocurrency activity in the European Union, through the European Securities and Markets Authority (ESMA).

If fully approved, this will allow you a single authority over the area of ​​digital assets within the trading block, creating a precedent for the creation of uniform regulations across the region.

“Likewise, granting ESMA the power to directly supervise public offerings of crypto assets in the EU and crypto asset service providers would create clear economies of scale for all national supervisors and concentrate technical knowledge efficiently, to the benefit common of Europe”, indicated the ESMA in this regard.

In 2020, several proposals were presented around the regulation of cryptocurrencies before the EU. The Paris-based ESMA aims to strengthen stakeholder investment, improve the functioning of financial markets and enhance cooperation between countries.

If the AMF proposal is adopted, it would seek to leverage ESMA’s expertise in regulating digital currencies and provide legal certainty for digital currency companies operating across the EU.

K. Tovar

Source: AMF-France

La entrada France works on the creation of a cryptocurrency regulator apareció primero en Bitfinance.