Reports said that the European Union’s securities regulator continues to strengthen its focus on cryptocurrency regulation, initiating a move to implement increased scrutiny of crypto transactions.
It has been reported that the European Securities and Markets Authority (ESMA) on Tuesday issued a public tender document aiming to collect additional information about trading data on crypto transactions. The regulator is specifically looking for “crypto off-chain data” or crypto-related transactions that do not originate from a blockchain.
However, according to ESMA, such transactions include spot and derivatives trade at centralized exchanges or over-the-counter trading platforms.
The document reads:
“The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape. Data should be available with daily frequency and include access to order books where to see spreads and liquidity across exchanges and trading pairs — in fiat and crypto.”
The report said that the contract ceiling is 100,000 euros ($102,000), corresponding to the maximum duration of the four-year framework contract, the ESMA noted. The regulator invited natural and legal persons to participate in the tender by August 17.
Thus, the news comes shortly after the European Council reached an agreement to create a separate Anti-Money Laundering (AML) authority to supervise certain crypto asset service providers in late June 2022. The new regulator is expected to monitor “high-risk and cross-border financial entities” including crypto firms to “put an end to the wild west of unregulated crypto.”