Gate News message. On April 10, the European Central Bank (ECB) recently said it supports the European Commission’s push to transfer regulatory powers over systemically important cross-border financial market participants—such as crypto-asset service providers, major trading venues, central counterparties, and central securities depositories—from national regulators to the European Securities and Markets Authority (ESMA). The initiative aims to deepen the integration of the EU’s capital markets and enhance overall competitiveness. The ECB recommends that the ESMA board establish non-voting central bank seats, and emphasizes that ESMA must obtain sufficient resources and staff to smoothly take over the new responsibilities. The related proposals will be negotiated by EU member states and the European Parliament, and are expected to take several months before they are finalized into law.
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