EU MULLS SEC-LIKE OVERSIGHT FOR STOCK, CRYPTO EXCHANGES

Summary from the TLDR Crypto newsletter

The European Commission is drafting a proposal to expand ESMA's jurisdiction over stock and crypto exchanges, crypto asset service providers, and trading infrastructure. This would create SEC-like central oversight to replace fragmented national regulators that raise cross-border costs and hinder EU startup development. The move addresses concerns about regulatory arbitrage under MiCA, which took effect in December 2024, allowing licenses from one EU state to "passport" across all 27 nations, prompting France, Austria, and Italy to call for ESMA supervision of major crypto firms.