The European Securities and Markets Authority (ESMA) has budgeted just over 1 million euro for supervising fintech and crypto assets. ESMA will use the money in 2019 for regulation, supervisory treatment and new financial activities with a focus on fintech and crypto assets. That’s what the European authority announced on Thursday.
ESMA wants to focus on identifying risks and trends, while providing relevant advice. They organization always wants to make the crypto business more transparent. It will work together with the Markets and Financial Instruments Directive (MiFID) to do so.