The EU is considering granting regulators new powers to directly oversee cryptocurrency businesses

According to Jinshi News, the EU's executive body is pushing to grant market regulators new powers to oversee all cryptocurrency operations within the EU. This proposal would make the European Securities and Markets Authority the direct regulator of all crypto asset service providers and responsible for authorizing new businesses. Currently, cryptocurrency companies must obtain authorization in at least one member state to provide services throughout the EU. This plan is one of the EU's efforts to centralize market regulation, although it has sparked controversy in some member states and companies.