The EU is considering bringing cryptocurrency firms under ESMA regulation, planning to launch the Capital Markets Union reform in 2027

BlockBeats News, December 9th — Mairead McGuinness, European Commissioner for Financial Services, said on Tuesday that the EU hopes to start implementing its Capital Markets Union (CMU) reform package by 2027, providing the first indication of the timeline for the reform. The new proposal still needs to be approved by the European Parliament and the EU Council, with some member states strongly opposing it. Centralizing regulatory powers would bring key clearinghouses, central securities depositories, and trading platforms under ESMA's oversight, and cryptocurrency firms would also fall under ESMA regulation. (Everbright)