ESMA looks for crypto data vendor

The European Securities and Markets Authority (ESMA) is seeking a crypto data vendor to ensure that big cryptocurrency companies are kept under closer scrutiny.

The European Union (EU) securities watchdog has started to prepare for further enforcement action and regulation of the cryptocurrency sector.

Part of the regulatory responsibility will be left with national governments of the 27 member states who will focus on regulating smaller crypto asset firms locally.

To get what it needs, ESMA is now seeking a suitable supplier who can provide it with detailed information about crypto transactions. A procurement request was put forward on Tuesday.

“The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape”, ESMA said.

The regulator will leverage this data to detect abuses in markets. This way, ESMA can act more decisively with enforcement action and make sure that it protects consumers and businesses.

The data should be available daily, ESMA explained, and said that it will be a pivotal tool in helping to keep the industry clean.

ESMA is willing to pay up to €100,000 to find a vendor that can provide it with an accurate data and help it monitor the cryptocurrency industry in the EU.

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Source

Updated: 08/03/2022 — 12:00

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