The European securities and markets watchdog ESMA has dedicated over 1 million euros to finance the monitoring of developments in the crypto sector. Also in The Daily this Saturday, Wyoming legislators are working on a bill that would facilitate the provision of banking services to crypto and blockchain companies, and according to a new survey, Wall Street institutions are more optimistic about bitcoin than crypto community members active on social media.
Also read: Empty ETH Blocks, Bitcoin Populism, Crypto Flip-Floppers Exposed
ESMA Saves 1 Million Euros for Oversight of the Fintech Industry
The European Securities and Markets Authority (ESMA) has set aside over one million euros that it intends to spend on monitoring activities related to cryptocurrencies and financial technologies. According to its Annual Work Program for 2019, the watchdog plans to closely follow trends in the crypto and fintech industry in order to identify problems and risks that may arise from financial innovations. The authority also wants to provide recommendations to market participants and consumers in that regard.
ESMA is responsible for ensuring compliance with the requirements of the Markets and Financial Instruments Directive of the European Union. Some of them concern the providers of instruments such as contracts-for-difference (CFDs) and binary options. The marketing and distribution of CFDs among retail investors is currently banned in the EU. Recently, the agency announced its decision to extend the restrictions applied to a number of financial derivatives, including CFDs, until the end of January.
Wyoming Bill Envisages the Creation of a Bank for Crypto Companies
Wyoming, one of the U.S. states with a generally crypto-friendly attitude, is working on another interesting project in support of the fintech industry. Members of the State Legislature have teamed up with financial experts
