The European Central Bank supports the EU in transferring cryptocurrency regulation to the European Securities and Markets Authority (ESMA)

According to Reuters, the European Central Bank has formally approved the European Commission's plan to transfer supervision of major cryptocurrency companies, trading venues and clearing houses from national regulators to the European Securities and Markets Authority (ESMA). The ECB warned that the European Securities and Markets Authority (ESMA) must be adequately staffed and funded and recommended a phased transition to avoid disruption.