The European Union’s securities watchdog has begun preparations for increased scrutiny of crypto transactions; after the bloc agreed groundbreaking rules to regulate what it called a “Wild West” sector, a public tender document showed.
While cryptoasset firms will be license by national regulators in the 27-country bloc; the European Securities and Markets Authority (ESMA) will monitor the bigger players.
Regulators use transactions data to spot abuses in markets, find out who is on each side of a transaction; and look for risky build ups of positions which could undermine orderly markets.
“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),” it said.
The contract is worth a maximum of 100,000 euros.