EU markets regulator budgets €1.1M to monitor cryptos & fintech

posted 2 months ago
The EU's financial markets watchdog is setting aside over €1 million for monitoring and intelligence gathering on cryptocurrencies and other fintech activities during 2019. As revealed in its 2019 Annual Work Programme – released today – the European Securities and Markets Authority (ESMA) listed its key priorities for the coming year. The agency said it aims to protect the economic bloc's financial well-being, it takes a "particular focus" on financial innovation including crypto assets, adding that it actively looks for issues and risks connected to such activities.

It also helps coordinate the region's regulatory initiatives on market monitoring and promoting best practices, including providing advice or proposing "relevant actions where needed." The ESMA's primary objective for the coming year, it states, is to: "Achieve a coordinated approach to the regulation and supervisory treatment of new or innovative financial activities and provide advice to present to the EU institutions, market participants or consumers."
Tags: blockchain, bitcoin, news