ChainThink news, November 2nd, according to FT, the European Commission is drafting a plan to expand central supervision over critical financial market infrastructures, including stock exchanges, cryptocurrency exchanges, and clearing houses, in order to reduce regulatory fragmentation across individual markets.

The plan will grant the European Securities and Markets Authority (ESMA) the authority to regulate "cross-border important entities," covering cryptocurrency asset service providers and post-trading infrastructure. Germany is discussing support measures with France, while countries such as Luxembourg and Ireland remain concerned that centralization of power may weaken their domestic financial industry competitiveness. The European Commission expects to present a formal "market integration plan" in December.