The European Central Bank (ECB) has backed a proposal to centralize oversight of cryptocurrency asset firms under the European Securities and Markets Authority (ESMA), adding momentum to efforts to tighten supervision across the European Union (EU). The move comes as policymakers look to strengthen enforcement of the Markets in Crypto-Assets (MiCA) framework and reduce fragmentation across member states. In its formal opinion, the ECB said it supports granting ESMA expanded powers to directly supervise major crypto asset service providers operating across borders. The endorsement also shows the EU’s move toward a ... (full story)