Agencies – Gaza Post
EU securities watchdog to arm itself with crypto data
The European Union’s securities watchdog has started preparations for increased scrutiny of crypto transactions after been agreed groundbreaking rules to regulate the “Wild West” sector.
While cryptoasset firms will be licensed by national regulators in the 27-country bloc, ESMA will monitor the bigger players.
ESMA has placed a public procurement order for suppliers of trading data on crypto transactions, including spot trades and derivatives.
Transactions have been excluded from blockchain or distributed ledger technology that supports cryptocurrencies such as bitcoin.
The ESMA said the coverage should include all major exchanges and crypto assets so as to provide a fair representation of the crypto market landscape.
Regulators use transaction data to detect violations in the markets, find out who is on each side of the transaction, and look for risky constructions of situations that could undermine regulated markets.
“Data should be available with a daily frequency and include access to order books where spreads and liquidity can be seen across exchanges and trading pairs, “as said.
The contract is worth a maximum of 100,000 euros.
