According to Crowdfundinsider, the European Central Bank supports the EU's proposal to centralize crypto asset regulatory responsibilities under the Paris-based European Securities and Markets Authority (ESMA). This aims to unify the currently fragmented regulatory framework, reduce regulatory arbitrage, and enhance cross-border coordination. Under the proposal, ESMA would be responsible for functions such as whitepaper approvals, trading platform oversight, and stablecoin stress testing. However, further refinement is needed on technical details, including ESMA's scope of authority, funding mechanisms, and transitional arrangements. https://(wublock123.com)/news/ecb-backs-eu-centralized-crypto-regulation-to-esma-59442