The European Union is considering expanding the European Securities and Markets Authority’s (ESMA) powers to strengthen oversight of both crypto markets and traditional stock exchanges. The proposal aims to enhance financial stability and investor protection by giving ESMA greater authority to supervise cross-border trading, crypto asset listings, and potential market manipulation. This move aligns with the EU’s broader efforts to implement the Markets in Crypto-Assets (MiCA) framework and improve transparency across financial systems. Lawmakers suggest that centralized supervision could help curb regulatory arbitrage and ensure consistent enforcement across member states.