When Europe wants to know everything about Bitcoin – Cryptos kept in custody

It’s time to watch – It’s no secret. When it comes to Bitcoin or other cryptocurrencies, Europe knows how to be severe and expresses itself with great blows of announcements and laws limiting the freedoms of use of our very esteemed cryptocurrencies: the different episodes of Iestablishment of the MiCa law are the example. Always so zealous, theEurope yesterday, through the voice of the Financial Markets Authority (ESMA), launched a tender for a cryptocurrency platform to provide it with off-chain data during 4 years. Explanations!

Off-chain data in the sights of European regulation

It was therefore the securities regulators of the European Union who decided to force attention on the regulation of cryptos. Also, the Financial Markets Authority (ESMA) yesterday published a tender document. The goal? collect Additional Information on the trading data of crypto transactions. Thus, one can read:

“Data should be available with daily frequency and include access to order books where to see liquidity across exchanges and trading pairs – in fiat and crypto. »

Behind this desire, which may worry some, Europe confirms its attention to keeping the cryptocurrency at a glance in a constant quest to fight against money laundering exacerbated by MiCa law and crypto winter.

Decentralized finance purists will rightly be annoyed by this offer who points a surveillance camera on cryptocurrencies. However, the €100,000 proposed leaves us doubtful. This sum remains quite derisory for a cryptocurrency platform or an on-chain analysis company which brews millions for some and billions for others.

While the actors of the traditional financial ecosystem flounder and seek to regulate (and tax) as much as possible, discover Bitcoin, Ethereum and cryptocurrencies a little better every day! And start accumulating and trading your first BTC and ETH by registering on the FTX reference platform by benefiting from a lifetime discount on your trading fees (commercial link).

Leave a Comment