EU finance ministers reach preliminary deal to centralize markets oversight under ESMA
- —ESMA would directly supervise 10-15 crypto firms out of about 360 in the bloc
- —Around eight major trading venues would fall under direct ESMA oversight
- —25 member states backed the compromise; Belgium abstained from the vote
- —Germany secured a Deutsche Börse exemption tied to market-share thresholds
Why it matters: The bloc's largest crypto firms would answer to a single Paris-based regulator instead of national watchdogs, though the European Parliament must still finalize the deal.
Source: Crypto Briefing