EU Commissioner commits to advancing pension and cryptocurrency reforms within the year

ChainCatcher news, according to market reports, the EU has set a year-end goal to take further measures by the end of the year to promote pension investments and simplify trading processes, striving to inject momentum into the revival of European capital markets.

EU Financial Services Commissioner Mairead McGuinness announced the relevant plans on Thursday. She also stated that the European Commission is considering granting its highest market regulatory authority located in Paris—the European Securities and Markets Authority (ESMA)—direct supervisory powers. She mentioned that with the transfer of regulatory powers to ESMA, the European Commission will consider the feasibility of implementing centralized supervision over certain market infrastructures such as central counterparties, central securities depositories, and trading venues. She added that emerging areas such as crypto asset service providers will also benefit from more centralized regulation, emphasizing that this move will not undermine the role of national regulatory authorities.