TechFlow news: On April 10, Reuters reported that the European Central Bank (ECB) recently stated its support for the European Commission’s initiative to centralize regulatory authority over systemically important cross-border financial market participants—including crypto-asset service providers, major trading venues, central counterparties (CCPs), and central securities depositories (CSDs)—from national regulators to the European Securities and Markets Authority (ESMA). This move aims to deepen the integration of EU capital markets and enhance overall competitiveness. The ECB recommended that ESMA’s Board establish a non-voting seat for central banks and emphasized that ESMA must be granted sufficient resources and personnel to effectively assume these new responsibilities. The related proposal will undergo negotiations between EU member states and the European Parliament, with final legislation expected to take several months.
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