The European Commission has proposed transferring regulatory authority over crypto companies from individual member states to the EU-level European Securities and Markets Authority (ESMA), aiming to advance financial market integration and reduce differences in MiCA implementation among countries. The Commission stated that the current regulatory approaches across the 27 countries vary significantly, resulting in fragmented oversight between crypto and other financial services sectors. Unified supervision by ESMA would be more beneficial for cross-border operations and regulatory efficiency. The proposal still requires negotiation and approval by the European Parliament and the Council of the European Union. (CoinDesk)