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ESMA Seeks to Collect Crypto-Related Transaction Data

ESMA Seeks to Collect Crypto-Related Transaction Data

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The security authority of the European Union is preparing to strengthen the authentication of cryptocurrency transactions.

The European Securities and Markets Authority (ESMA) published a public tender on August 2 adwhere the regulator requests to provide trading data for crypto transactions.

The authority is looking for “non-encryption cryptographic information” which includes spot trades and derivatives. The announcement emphasizes that the required material will come exclude blockchain transactions and “distributed ledger technology” data.

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According to the announcement:

Coverage should cover all major exchanges and crypto assets to provide a fair picture of the crypto market landscape.

The safety authority strives to receive detailed information including daily shift intervals and access to the order bookwhich would reveal “spreads and liquidity on exchanges and trading pairs (in fiat and crypto).”

Regulatory authorities are set to use this information locate possible market abuses, be aware of recipients and initiators of transactions and identify potential risk accumulationswhich may adversely affect regulated markets.

The Securities Market Authority stated that the offer is valid until August 17th. On top of everything, the maximum is offered The value of the contract is 100,000 euros.

The Council of the European Union made a decision in June launch an anti-money laundering (AML) body., which oversees cryptocurrency service providers. The new authority unit keeps an eye on “high risk and cross-border financial entities”.

In other news, the European Central Bank is divided Detailed research to find the best cross-border payment, arguing that Central Bank Digital Currency (CBDC) is the best option.

Gile K. - cryptanalyst

by Gile K. – Crypto Analyst, BitDegree


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