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ESMA finalizes guidance for EU regulators on detecting and preventing crypto market abuse

The European Securities and Markets Authority (ESMA) has issued the Final Guidelines on Anti-Abuse Regulation in Crypto-Asset Markets. The document, as a supporting rule for the MiCA regulations, will be fully implemented within three months of publication. The guidelines require regulators 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, and particularly emphasize the need to strengthen supervision of the spread of false information on social media, blogs and other online platforms. The document requires professional trading institutions (PPAETs) to deploy automated monitoring tools and establish a hierarchical processing mechanism for suspicious transaction reports (STORs). For cross-border supervision, ESMA explicitly requires regulators in various countries to share regulatory cases of non-EU crypto companies and regularly report cross-border collaboration obstacles to ESMA.

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