The European Commission is drawing up a plan to centralize the supervision of securities and cryptocurrency platforms under a single authority, the Financial Times reported on Sunday.
The proposal would give the European Securities and Markets Authority (ESMA) new powers to directly supervise trading platforms, mirroring the role of the US Securities and Exchange Commission (SEC).
The move aims to streamline the EU's currently fragmented regulatory landscape, which is seen as a barrier to cross-border trade and the growth of start-ups.
The initiative is a key part of a long-running effort to create a unified "capital markets union."