🇪🇺 The ECB officially approved a plan to transfer supervision of major crypto companies, trading platforms, and clearing centers from national regulators to the European Securities and Markets Authority (ESMA), reports Reuters.

The central bank warned that the Paris-based ESMA needs to be provided with sufficient staff and funding, and also recommended a phased transition to avoid disruptions.

At the same time, EU countries with a developed licensing system for CASP, including Ireland, Luxembourg, and Malta, opposed the initiative. They believe the decision will weaken national supervisory authorities and financial markets.