• Sat, 24 Aug 2019, 08:53 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

European Securities and Markets Authority budgets €1M to monitor crypto-assets and fintech

Image: Forex News Now

Fri, 05 Oct 2018, 11:43 am UTC

The European Securities and Markets Authority (ESMA) has budgeted over €1 million to monitor financial innovation including cryptocurrencies.

The regulator has published its “ 2019 Annual Work Programme” this week, which outlines ESMA’s key focus areas for 2019 and related budget and staffing numbers.

With regard to financial innovation, ESMA underscored its two key objectives. This includes:

“Achieve a co-ordinated 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.

“Implement the framework for the use of the product intervention powers provided by MiFIR.”


The regulator said that it monitors financial activities and retail investor trends, with a particular focus on financial innovation including fintech and crypto-assets.

“It identifies issues and/or risks connected to such activities and trends, and helps to co-ordinate NCAs [National Competent Authorities] initiatives on market monitoring and facilitating exchanges of best practices, including providing advice or making proposals of relevant actions where needed,” the report said.

On these lines, ESMA has budgeted €1,107,360 and 6 full-time equivalent staff. This is part of a total budget of over €48 million for its 2019 work programme.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $10,152.40 (-0.41%)
  • Ethereum (ETH) $190.32 (-1.22%)
  • XRP (XRP) $0.270700 (-0.47%)
  • Bitcoin Cash (BCH) $309.35 (+0.02%)
  • Litecoin (LTC) $73.36 (-0.87%)
  • Bitcoin (BTC) $10,152.40 (-0.41%)
Aug 23, 2019 (Friday)
11:35
Stablecoin project Terra receives funding from HashKey Capital
10:49
Three of the founding members of Libra Association consider backing out: Report
08:55
Overstock's Patrick Byrne steps down as CEO
08:52
Pundi X brings XPOS crypto payments to Venezuela's Traki retail stores
07:22
Blockchain startup Blockstack scores strategic investment from Japan's Recruit Holdings
07:19
BitGo announces support for multi-signature EOS wallet and custody services
06:39
US Treasury blacklists crypto addresses of suspected Chinese fentanyl traffickers
06:14
Chainalysis launches ‘Chainalysis KYT Alerts’ to detect suspicious cryptocurrency activity in real-time
05:13
Cryptocurrencies used to buy fentanyl, other illicit drugs: White House
05:04
Blockchain energy startup Power Ledger extends energy trading trial in Fremantle
03:53
Blockchain accelerator initiatives launched at the University of California campuses
Aug 22, 2019 (Thursday)
13:05
Crypto exchange Coincheck mulls launching IEO Platform
12:46
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
11:53
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
11:42
Sierra Leone launches blockchain-based National Digital Identity Platform
10:43
Blockchain startup Blocko secures $7.4M in Series B+ round from major South Korean financial institutions
09:52
Crypto Technicals: Ethereum Classic ignores crypto space weakness, extends gains to break above 200-DMA
09:16
Former Zaif exchange owner Tech Bureau to discontinue crypto business after completing customer refunds
08:32
Crypto Technicals: XLM/USD bearish trend intact, hits multi-month lows at 0.06542
07:33
Russian firm ICORating settles $270K fine with SEC for concealing ICO touting payments
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft