EU crypto community has two weeks to join conversation on crypto data
The European Union’s securities regulator continues to strengthen its focus on cryptocurrency regulation, initiating a move to implement increased scrutiny of crypto transactions.
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. According to ESMA, such transactions include spot and derivatives trade at centralized exchanges or over-the-counter trading platforms.
“The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape,” the document reads. The ESMA pointed out that crypto data providers should update their data on a daily basis, stating:
“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 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 Aug. 17.
Related: EU agrees on MiCA regulation to crack down on crypto and stablecoins
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 in order to “put an end to the wild west of unregulated crypto.”
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