The European securities and markets authority (ESMA) has planned to allocate in 2019 1.1 million euros for the implementation of the monitoring and regulation of new financial technologies, including cryptocurrencies.
In the framework of the working program for the year ESMA will evaluate the risks and trends associated with such activities, as well as prepare the necessary recommendations to the institutions, market participants and consumers. And to achieve greater market transparency and a coordinated approach to regulation and supervision in the sphere of new or innovative financial activities of the regulator plans to implement the Directive on markets in financial instruments (MiFID).
Recall that a week ago, ESMA has extended for 3 months expiring on November 1, the restriction on the marketing, distribution and sale of contracts for difference (CFD) related to cryptocurrency. This decision was made because ESMA remained serious doubts as to the absence associated with these risk products for retail investors.