The European Union security regulator is preparing to strengthen the verification of cryptocurrency transactions.
On August 2nd, The European Securities and Markets Authority (ESMA) issued a public tender announcement, where the regulator asks to provide crypto transaction trading data.
The Authority is looking for “crypto off-chain data”, which includes spot trades and derivatives. The notice highlights that required material should exclude blockchain transactions and “distributed ledger technology” data.
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According to the notice:
The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape.
The security regulator aims to receive detailed information containing daily frequencies and order book access, which would reveal “spreads and liquidity across exchanges and trading pairs (in fiat and crypto).”
Regulators are set to use this data to pinpoint potential market abuses, be aware of the receivers and initiators of the transactions as well as identify any “risky build-ups”, which can negatively affect orderly markets.
The Securities and Markets Authority noted that the tender is eligible until August 17th. On top of that, offering the maximum value of the contract to 100,000 euros.
Back in June, The European Union Council made a decision to launch Anti-Money Laundering (AML) organ, which will supervise crypto asset service providers. The new authority unit will keep an eye on “high-risk and cross-border financial entities”.
In other news, the European Central Bank has shared a detailed study in search of the best cross-border payment, claiming that central bank digital currency (CBDC) is the best option.