The European securities and markets authority (ESMA) has allocated more than €1 million for monitoring activity in the field of cryptocurrency and financial technology.
These data are published in the work programme of the Agency for 2019, informs Rus.Media.
The document States that ESMA will monitor the current trends in FINTECH – and kryptongatan, to identify various problems and risks associated with financial innovation and to provide necessary guidance to market participants and consumers.
Also, the Agency will ensure compliance with the requirements set out in the EU Directive on markets and financial instruments. The latter, in particular, affect the suppliers of such financial instruments as contracts for difference (CFDs) and binary options. The Directive provides for a ban on the marketing and distribution of CFD trading amongst retail investors and other limitations for this segment of the market.
Earlier, the European banking organization published a report stating that the smart contracts and the blockchain can solve many of the problems of the financial industry.