ESMA - Final Report on Guidelines on supervisory practices for competent authorities to prevent and detect market abuse under MiCA
ESMA has published guidelines on supervisory practices to prevent and detect market abuse under the Market in Crypto Assets Regulation (MiCA).
The guidelines set out general principles requiring supervisory activity to be risk-based and proportionate, and set the objective for NCAs to build a common supervisory culture specific for crypto assets through an open dialogue with the industry and interactions with other NCAs. The guidelines aim to support consistent and efficient supervisory practices among NCAs, ensuring a common supervisory culture for crypto assets.
The Guidelines will be translated into all EU languages and will start applying three months after that date. However, ESMA recommends that NCAs already start implementing the principles included in the guidelines whilst waiting for the translations.
Within two months of the date of publication of the Guidelines on ESMA’s website in all EU official languages, competent authorities to which these guidelines apply must notify ESMA whether they comply or not
