The EU plans to promote unified regulation of all crypto businesses within the region by ESMA.

According to a Bloomberg report on November 14th, the European Commission plans to push for the European Securities and Markets Authority (ESMA) to exercise unified regulation and authorization over all crypto asset servicers operating in the EU. The draft proposal indicates that ESMA could delegate tasks to national regulators when necessary. These draft plans must also be approved by the European Parliament and the Council of Member States. Currently, under the 2023 MiCA rules, crypto asset servicers only need approval in one member state to operate throughout the EU.