The European Securities and Markets Authority (ESMA) may be granted direct supervisory powers over cryptocurrency exchanges and digital-asset service providers across the European Union.

Under the new proposal, EU authorities are seeking to eliminate regulatory fragmentation across the 27 member states and strengthen supervision over major cross-border crypto operators.
Instead of being regulated by multiple national regulators, individual exchanges and platforms would fall under a unified oversight framework managed by ESMA, creating a more centralized supervisory regime.
The initiative is expected to boost transparency, enhance investor protection and reduce regulatory arbitrage — but it may also lead to stricter controls and new compliance obligations for market participants.
If adopted, this would mark a significant step forward in integrating crypto regulation into the EU’s broader financial infrastructure.