European regulators are pushing for a major overhaul in how crypto companies get supervised. The European Commission just floated a proposal that would hand over licensing and oversight duties from national authorities to ESMA—the EU's securities watchdog. Why the shake-up? They're trying to fix the patchwork enforcement mess that MiCA created across member states. Different countries, different rules, different standards. That fragmentation's been a headache for firms operating cross-border. The plan? Centralize the whole thing. One regulator, one rulebook, smoother cross-border operations. It's part of a broader push to unify financial market oversight across the bloc and make the regulatory landscape less of a maze for crypto businesses navigating multiple jurisdictions.