The European Commission proposes expanding the powers of the European Securities and Markets Authority (ESMA), raising licensing concerns.

Jinse Finance reported that on Thursday, the European Commission released a package of proposals suggesting "direct supervision" of key market infrastructures, including Crypto Asset Service Providers (CASP), trading venues, and the European Securities and Markets Authority (ESMA) central counterparties. If the proposal is approved, the role of ESMA in supervising EU capital markets will become closer to the centralized framework of the U.S. Securities and Exchange Commission, a concept initially proposed by European Central Bank (ECB) President Christine Lagarde in 2023.