[European Central Bank Supports EU's Move to Transfer Cryptocurrency Regulation to European Securities and Markets Authority (ESMA)] According to Reuters, the European Central Bank has officially approved the European Commission's plan to transfer the regulatory authority over major cryptocurrency companies, trading platforms, and clearinghouses from national regulators to the European Securities and Markets Authority (ESMA). The European Central Bank warned that the European Securities and Markets Authority (ESMA) must be adequately staffed and funded, and suggested a phased transition to avoid disruptions.