EU Moves to Give ESMA Greater Oversight of Crypto Firms

The European Commission is reportedly working on new rules to give the European Securities and Markets Authority (ESMA) more control over cryptocurrency companies. Right now, oversight mostly falls to national regulators, which can lead to inconsistent enforcement across EU countries. Under the proposed changes, ESMA would have the power to monitor and enforce compliance for crypto firms operating in multiple member states. The goal is to protect investors, create consistent rules, and tackle risks like fraud and market manipulation. By centralizing supervision, the EU aims to make the crypto space safer and more transparent, while still encouraging growth and innovation in the digital finance sector.