[The EU Plans to Grant ESMA Greater Powers to Fully Regulate Cryptocurrency and Stock Markets] According to cryptonews, citing the Financial Times, the European Commission is preparing a comprehensive reform aimed at granting the European Securities and Markets Authority (ESMA) direct regulatory authority over stock exchanges, cryptocurrency companies, and clearinghouses. ESMA Chair Verena Ross stated that this move seeks to address the longstanding issue of fragmentation in EU financial markets and to create a more integrated and globally competitive capital market. Currently, the regulation of crypto asset service providers (CASPs) is primarily carried out by individual member states under the MiCA framework. However, ESMA believes that this decentralized regulatory approach is inefficient and undermines consumer protection. Nevertheless, the proposal has faced opposition from smaller countries such as Luxembourg and Malta, which have warned that centralizing power could harm their local financial industries.