As the crypto industry is spreading its wings across the Europe, the regulators are following the movement for decentralized future by setting more regulations, adopting the blockchain technology and as now – setting a budget to watch the industry. The European Union’s financial regulators released a budget worth €1.1 million to observe cryptocurrencies and other fintech projects during the next year.
The European Securities and Markets Authority (ESMA) released today its 2019 Annual Work Programme, where is listed all the main priorities, staffing numbers and budgets of ESMA.
As mentioned in the document, the agency is paying extra focus on crypto assets and other industry related innovations, in order to protect the economical wealth of the European markets.
The main objective of ESMA for the year of 2019, is stated to be:
“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.”
The released budget is said to be used for the improvement of monitoring the markets and its regulations, and to push the best of the activities while providing advice when needed.
Author: Sarah Tuuli