The European Union plans to bring cryptocurrency companies under the regulation of ESMA and aims to launch capital market integration reforms in 2027.

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On December 9th, EU Financial Services Commissioner Maria Louise Albuquerque stated that the EU hopes to begin implementing its comprehensive capital market integration reform package by 2027, providing guidance on the timeline for the reforms for the first time. The new proposal still requires approval from the European Parliament and the Council of the European Union, and some member states strongly oppose it. Centralized regulatory powers will bring important clearinghouses, central securities depositories, and trading platforms under the jurisdiction of ESMA, and cryptocurrency companies will also be regulated by ESMA. (Jinshi)

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