Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data – Regulation Bitcoin News

The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities.

ESMA Launches Public Procurement for Providers of Crypto Trading Data

The securities watchdog of the European Union, ESMA, is preparing to increase scrutiny on transactions involving cryptocurrencies, a public tender has indicated. On Tuesday, the authority launched a procurement procedure for suppliers of trading data on crypto transactions including spot trades and derivatives, Reuters reported.

How To Get Free Crypto  

The move comes after EU institutions agreed on a draft proposal to comprehensively regulate the digital asset space known as the Markets in Crypto Assets (MiCA) package. While under the legislation smaller companies will be licensed by national regulators, ESMA will be in charge of monitoring larger players in the “Wild West” sector, as some officials have described it. In a notice, the regulator detailed:

The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape.

The report further notes that regulatory bodies around the world use transaction data to identify market abuses, find out who is on each side of a transaction, and look for risky build-ups of positions which could undermine the markets.

ESMA’s announcement emphasized the data should be available daily. The watchdog also wants to have access to order books where it will be able to see spreads and liquidity across exchanges and trading pairs, in both fiat and cryptocurrency. The contract for these services should not be worth more than €100,000 ($101,000).

The MiCA legislation designates the European Securities and Markets Authority as a leading cryptocurrency watchdog in the 27-strong bloc of nations with certain powers greater than those of national regulators. ESMA will also have the responsibility to determine the scope of the law regarding various crypto assets.

Coinbase Banner  
Tags in this story
Crypto, crypto assets, crypto transactions, Cryptocurrencies, Cryptocurrency, EU, Europe, european, European Union, Oversight, regulator, Scrutiny, Securities, transactions data, watchdog

Do you think ESMA will be able to thoroughly monitor crypto-related transactions in the European Union? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Read disclaimer

Go to Source
Author: Lubomir Tassev

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

FreeBitcoin Banner  

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.