The European Securities and Markets Authority (ESMA), in order to implement a program to strengthen regulation of the crypto industry, has announced a tender for the supply of data on crypto business.
The regulator tightens control over cryptocurrency transactions after agreeing on new regulations for the so-called “Wild West”. ESMA focuses only on large crypto-currency companies, while the supervisory authorities of 27 states must regulate the rest of the European business providing services related to digital assets.
The regulator has sent to providers of data on cryptocurrency transactions, including spot transactions and derivatives, a request for public procurement of information on transactions of crypto companies. ESMA is not interested in blockchain transaction data or the distributed ledger technology that underpins cryptocurrencies such as Bitcoin:
“The information needs to cover all the major exchanges and crypto assets in order to form the right picture in the crypto market landscape.”
Officials intend to use transaction data to detect market abuse, identify participants in transactions, and look for risky increases in positions that could undermine market stability.
“The data should be available on a daily basis and include access to order books where you can see spreads and liquidity on exchanges and trading pairs (in fiat and cryptocurrency),” the message says.
The European regulator is ready to purchase information about cryptocurrency activities at a maximum price of 100,000 euros.
Recall that in April, the Web3 International Community and several dozen crypto companies signed an open letter to EU regulators calling for “reasonable regulation” for the industry.
Source: Bits
I’m James Harper, a highly experienced and accomplished news writer for World Stock Market. I have been writing in the Politics section of the website for over five years, providing readers with up-to-date and insightful information about current events in politics. My work is widely read and respected by many industry professionals as well as laymen.
