European regulators are looking for additional data around bitcoin

European regulators are looking for additional data around bitcoin
The European Securities and Markets Authority (ESMA) is busy regulating bitcoin. The European regulator focuses on regulating the industry.

In practice this simply means more data storage. For example, financial service providers must collect more customer data. If requested, this data must be shared with the police or tax authorities, for example.

To help with this, ESMA is asking for input from outside. They would like to look at trading on central exchanges or over-the-counter trading platforms. Through an open tender, there is a simple proposal: provide extensive data on cryptocurrencies and transactions.

It must be off-chain. So not just the transactions, but for example datasets about the behaviour of traders. Think of information about spot or future markets.

The contract is worth up to 100,000 euros.


The goal is clear: to gain more insight into how exchanges and users interact with bitcoin and tokens. In Europe they are busy with a large scale approach of the industry around bitcoin.

They are now putting the finishing touches to a package called Markets in Crypto Assets (MiCA). The aim is to harmonise all regulations in the 27 member states. In practice, it will probably vary somewhat from country to country.

The rules should reportedly be rolled out in 2024.


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