[European Commission Proposes Expanding ESMA's Powers for Direct Regulation of Key Markets] The European Commission on Thursday unveiled a package of proposals to implement direct regulation over key market infrastructures, including crypto asset service providers, trading venues, and central counterparties under the European Securities and Markets Authority (ESMA). If the proposal is approved, ESMA's regulatory role in EU capital markets will become closer to the centralized framework of the U.S. Securities and Exchange Commission. This concept was proposed by European Central Bank President Christine Lagarde in 2023.