EU securities regulator to arm itself with cryptocurrency data

The European Union‘s securities watchdog has begun preparations for elevated scrutiny of crypto transactions after the bloc agreed to groundbreaking guidelines to control what it known as a “Wild West” sector, a public tender doc confirmed.

Whereas cryptoasset companies will likely be licensed by nationwide regulators within the 27-country bloc, the European Securities and Markets Authority (ESMA) will monitor the larger gamers.

ESMA put out a public procurement request on Tuesday to suppliers of buying and selling knowledge on crypto transactions, together with spot trades and derivatives.

It excludes transactions from blockchain, or the distributed ledger expertise, which underpins cryptocurrencies like bitcoin.

“The protection ought to embody all main exchanges and crypto property in order that it gives a good illustration of the crypto market panorama,” ESMA stated in its discover.

Regulators use transaction knowledge to identify abuses in markets, discover out who’s on all sides of a transaction, and search for dangerous buildups of positions that might undermine orderly markets.

“Knowledge ought to be out there with each day frequency and embrace entry to order books the place one can see spreads and liquidity throughout exchanges and buying and selling pairs (in fiat and crypto),” it stated.

The contract is price a most of 100,000 euros.

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