EU eyes 2027 for capital markets reform bringing crypto firms under ESMA

European Union Financial Services Commissioner Maria Luisa Albuquerque said on December 9 that the bloc aims to begin implementing its capital markets union reform package by 2027, marking the first time a timetable has been set for the initiative, BlockBeats and Jinshi reported. The proposal, which still needs approval from the European Parliament and the Council of the EU and faces strong opposition from some member states, would centralize supervisory powers so that major clearing houses, central securities depositories, trading venues and cryptocurrency companies fall under the authority of ESMA.