The European Union’s securities regulator continues to strengthen its focus on regulating cryptocurrency, and begins taking a step to implement more scrutiny of cryptocurrency transactions.

The European Securities and Markets Authority (ESMA) on Tuesday released a public tender document that aims to collect additional information on trading data for cryptocurrency transactions.

The regulator specifically looks for “off-chain crypto-data” or crypto-related transactions that do not originate from the blockchain. According to ESMA, these transactions include spot and derivative trading on centralized exchanges or OTC trading platforms.

The document reads: “The coverage must include all major exchanges and crypto assets so as to provide a fair representation of the cryptocurrency market landscape.” ESMA indicated that crypto data providers should update their data on a daily basis, noting:

“Data should be available on a daily basis and include access to order books where you can see spreads and liquidity across exchanges and trading pairs – in fiat and cryptocurrencies.”
The Emirates Authority for Standardization and Metrology indicated that the contract ceiling is 100,000 euros ($102,000), which corresponds to the maximum duration of the framework contract for four years. The regulator invited natural and legal persons to participate in the tender by August 17.

Related: EU Approves MiCA Regulations to Crack Down on Crypto and Stable Currencies

The news comes shortly after the European Council reached an agreement to create a separate Anti-Money Laundering (AML) body to oversee some crypto-asset service providers in late June 2022. The new regulator is expected to monitor “high-risk and cross-border financial entities” including Including crypto companies” to put an end to the Wild West of unregulated cryptocurrencies. “

Source: CoinTelegraph