Crypto firms are required to gain authorization in at least one member state, under the EU’s Markets in Cryptoassets rules.Photographer: Angel Garcia/BloombergThe European Union’s executive arm is pressing for its markets regulator to get new powers to oversee all crypto businesses operating in the bloc, a move that could upend years of work by national watchdogs and businesses to regulate the industry. Draft plans circulated by EU officials ahead of an announcement next month propose the Europe...