5.Oct.2022 ABN Asia – The European Banking Authority is spending EUR 360.000 to subscrtibe to crypto market data feeds.

5.Oct.2022 ABN Asia

The European Banking Authority has decided to monitor the crypto market better. It has put out 2 bids to monitor the crypto market for consumer protection. It will spend about EUR 360.000 on a subscription model to get the required data. Tenders shall close on 11.Nov.2022 as reported by ABN Asia. Good move.

The EBA would like to access real-time data on crypto-assets and crypto-assets markets via a subscription model, to properly fulfil its mandates, namely:(a) to monitor and assess developments in digital finance-related topics, including the exposure of the banking and payments sectors to crypto-assets;(b) to foster consumer protection in financial services across the EU by identifying and addressing detriment consumers may experience, or are at risk of experiencing; and(c) to prevent the use of the financial system for the purposes of money laundering and terrorist financing (ML/TF), including by leading the development of AML/CFT policy, coordinating and fostering effective cooperation and information exchange between all relevant authorities, and monitoring the implementation of EU AML/CFT policies and standards to identify vulnerabilities in competent authorities’ approaches to AML/CFT supervision.

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