ESMA finalizes EU regulators' guidelines on detecting and preventing abuse in crypto markets

PANews reported on April 30 that according to Finance Magnates, the European Securities and Markets Administration (ESMA) has issued the "Final Guidelines for the Counter-Abuse Supervision of Crypto Asset Markets", which is a supporting rules for MiCA regulations and will be fully implemented within three months after its publication. The guidelines require regulatory agencies of the 27 member states of the EU to establish a unified market monitoring system, focusing on preventing three types of violations: insider trading, illegal information disclosure and market manipulation, and particularly emphasize the need to strengthen supervision of the dissemination of false information on online platforms such as social media and blogs. Documents require that professional trading institutions (PPAETs) must deploy automated monitoring tools and establish a hierarchical processing mechanism for suspicious transaction reports (STORs). Regarding cross-border regulation, ESMA clearly requires regulatory agencies across countries to share regulatory cases of non-EU crypto companies and regularly report cross-border collaboration barriers to ESMA.

It is worth noting that the guideline formulation process did not conduct public solicitation of opinions. ESMA explained that because Article 125 of MiCA Regulations is explicitly authorized and the guidance is only for regulators and not market participants. Regulators in various countries must submit a compliance commitment letter to ESMA within two months. If you choose a partial exemption, you must specify the specific ones.