EU Securities and Markets Authority Proposes New Standards for Crypto Market

According to Odaily, the European Securities and Markets Authority (ESMA) has proposed new technical standards under its Markets in Crypto Assets (MiCA) regulations. In these standards, Maximum Extractable Value (MEV) is defined as a clear example of illegal market abuse. Patrick Hansen noted that nearly all EU-regulated crypto businesses, including exchanges and brokers, will need to detect and report MEV instances through comprehensive 'Suspicious Transaction and Order Reports' (STORs). The new standards have raised concerns about the feasibility of managing each instance report. ESMA also suggests that authorities within and outside the EU cooperate to sanction market abuse, and those involved in MEV may face investigations and enforcement by international regulatory bodies. The deadline for consultation feedback set by ESMA is June 25, and the final standards are expected to have a significant impact on the EU's crypto regulatory environment.