Cryptocurrency calling his industry the wild west European Union (EU), had adopted comprehensive rules to control the industry.
after the EU European Securities and Markets Authority (ESMA) has also started to work on more control of the crypto money industry.
According to Reuters, ESMA cryptocurrency It will oversee the larger market participants by expanding the scope of control and scrutiny over its transactions.
That means crypto companies will continue to be licensed by national authorities in the 27-country bloc, while the EU’s securities regulator will monitor and oversee the larger players.
In this regard, ESMA has sent a crypto transaction-related fact-finding document to companies that provide trading data on cryptocurrency transactions, including spot trades and derivatives.
in this document Bitcoin (BTC) underlying cryptocurrencies such as blockchain or transactions from distributed ledger technology are excluded.
ESMA, in its announcement “Coverage should cover all major exchanges and crypto assets to provide a fair representation of the crypto market environment” said.
ESMA also stated that regulators will analyze transaction data to determine who is on both sides of a cryptocurrency transaction and to investigate potentially dangerous transactions that could disrupt regular markets.
“Data on cryptocurrency transactions should be available daily and include access to order books where you can see the liquidity and spreads between exchanges and trading pairs (in fiat and crypto).”