EU Regulators Plan To Control Crypto Transactions

Representatives of the European Union Securities and Exchange Regulatory Authority (ESMA) said they would pay more attention to the control of the cryptocurrency sector. To do this, new measures will be created to supervise transactions in this industry. Experts noted: that the EU crypto community has 2 weeks, starting from August 3, 2022, to join the discussion of these issues, win the tender for security and help the organization make the right decisions.

It became known: ESMA is looking for ways to control over-the-counter cryptographic data or information about spot transactions, as well as transactions with cryptocurrency derivatives on centralized exchanges and other trading platforms (OTC). The organization’s press service published an open tender document to collect additional information about data on crypto transactions. ESMA is very hopeful: that specialized companies will help solve these problems, for which a tender contract for $102,000 was offered. The competition will end on August 17, 2022.

Regulators have stated the importance of discovering all off-chain crypto data associated with transfers that occur off-chain. According to the organization’s representatives, it is essential to cover not only the leading exchanges and crypto assets to provide a fair view of the landscape of the crypto market but also all other platforms related to this industry.

According to regulators: cryptographic data providers must update information daily. Transaction details must include access to order books where you can see spreads and liquidity on exchanges in both fiat and cryptocurrency trading pairs.

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