(17)To ensure efficient and effective market monitoring by competent authorities, transaction records should reflect whether the transaction was executed wholly or partly through a branch of the crypto-asset service provider located in another Member State or in a third country. The inclusion of data detailing the activity of each branch in the records kept by the crypto-asset service providers, should not lead to a disproportionate administrative burden for the crypto-asset service provider, but would enable competent authorities to supervise the services provided by crypto-asset service providers more efficiently and to enhance the visibility on how those services are provided within the different Member States.