According to Finance Magnates, the European Securities and Markets Authority (ESMA) has released the "Final Guidelines on the Regulation of Market Abuse in the Crypto Asset Markets," which will be fully implemented within three months of its publication as part of the MiCA regulation. The guidelines require regulatory authorities in the 27 EU member states to establish a unified market monitoring system, focusing on preventing three types of violations: insider trading, illegal information disclosure, and market manipulation, with a particular emphasis on enhancing the regulation of false information dissemination on social media, blogs, and other online platforms. The document requires Professional Trading Firms (PPAETs) to deploy automated monitoring tools and establish a hierarchical processing mechanism for Suspicious Transaction Reports (STORs). For cross-border regulation, ESMA explicitly requires national regulatory authorities to share regulatory cases of non-EU crypto companies and to regularly report any cross-border cooperation obstacles to ESMA.
It is worth noting that the process of formulating this guideline did not involve public consultation. ESMA explains that, since Article 125 of the MiCA regulation has clearly authorized it, and the guidelines are only aimed at regulatory authorities rather than market participants. National regulatory authorities must submit a compliance commitment to ESMA within two months, and if they choose partial exemptions, they must specify the details.
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ESMA finalizes guidelines from EU regulators on detecting and preventing abuse in the crypto market.
According to Finance Magnates, the European Securities and Markets Authority (ESMA) has released the "Final Guidelines on the Regulation of Market Abuse in the Crypto Asset Markets," which will be fully implemented within three months of its publication as part of the MiCA regulation. The guidelines require regulatory authorities in the 27 EU member states to establish a unified market monitoring system, focusing on preventing three types of violations: insider trading, illegal information disclosure, and market manipulation, with a particular emphasis on enhancing the regulation of false information dissemination on social media, blogs, and other online platforms. The document requires Professional Trading Firms (PPAETs) to deploy automated monitoring tools and establish a hierarchical processing mechanism for Suspicious Transaction Reports (STORs). For cross-border regulation, ESMA explicitly requires national regulatory authorities to share regulatory cases of non-EU crypto companies and to regularly report any cross-border cooperation obstacles to ESMA. It is worth noting that the process of formulating this guideline did not involve public consultation. ESMA explains that, since Article 125 of the MiCA regulation has clearly authorized it, and the guidelines are only aimed at regulatory authorities rather than market participants. National regulatory authorities must submit a compliance commitment to ESMA within two months, and if they choose partial exemptions, they must specify the details.