The European Commission is set to propose a new regulatory framework granting the European Securities and Markets Authority (ESMA) the authority to uniformly regulate crypto-asset service providers across the EU. This move aims to streamline oversight and ensure consistent standards within the bloc. The draft proposal, which allows ESMA to delegate certain tasks to national regulators, requires approval from both the European Parliament and the Council of the EU. Currently, under the 2023 Markets in Crypto-Assets (MiCA) regulations, crypto-asset service providers can operate throughout the EU with authorization from a single member state. The proposed changes seek to centralize regulatory power, potentially enhancing the efficiency and effectiveness of crypto oversight in the region.