ESMA finalizes EU regulators 'guidance on detecting and preventing abuse in the crypto market
According to online reports, Finance Magnates reported that the European Securities and Markets Authority (ESMA) has issued the "Final Guide to Anti-Abuse Regulation in the Cryptographic Asset Market". This document serves as a supporting rule for MiCA regulations and will be fully implemented within three months after its publication. The guide requires regulatory agencies in the 27 member states of the European Union to establish a unified market monitoring system, focusing on preventing three types of violations: insider trading, illegal information disclosure and market manipulation, with special emphasis on the need to strengthen supervision of the dissemination of false information on social media, blogs and other online platforms. The document requires professional trading institutions (PPAEs) to deploy automated monitoring tools and establish a hierarchical processing mechanism for suspicious transaction reports (STORs). Regarding cross-border regulation, ESMA clearly requires regulators from various countries to share regulatory cases of non-EU crypto companies and regularly report obstacles to cross-border collaboration to ESMA. It is noteworthy that there was no public solicitation of opinions during the formulation process of this guide. ESMA explained that since Article 125 of the MiCA Regulation is explicitly authorized and the guidance is only for regulators and not market participants. Regulators of various countries need to submit compliance commitments to ESMA within two months. If partial exemptions are selected, details need to be specified
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