European Regulator Issues Final Guidance on MiCA
The European Securities and Markets Authority (ESMA) has issued its final guidance in preparation for the full implementation of the Markets in Crypto-Assets (MiCA) regulations across the region, as announced in a statement on December 17.
This release concludes 18 months of regulatory work, during which ESMA, in collaboration with the European Banking Authority (EBA), developed over 30 Technical Standards and Guidelines. A key focus of ESMA’s guidance is addressing market abuse within crypto markets.
The published material includes a standardized reporting format for suspected abuse and establishes procedures for cross-border cooperation between regulators.
These measures are designed to provide authorities with the necessary tools to detect market manipulation and effectively enforce penalties.
The guidance also addresses the practice of reverse solicitation, defining the conditions under which crypto-asset service providers (CASPs) are permitted to interact with clients.
