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ESMA finalizes guidelines for EU regulators to detect and prevent abuse in the crypto market

ChainCatcher news, according to Finance Magnates, the European Securities and Markets Authority (ESMA) has released the "Final Guidelines on the Regulation of Market Abuse in Crypto Assets," which will be fully implemented within three months after its publication as part of the MiCA regulatory framework.The guidelines require the regulatory authorities of 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, with a particular emphasis on strengthening the regulation of false information dissemination on social media, blogs, and other online platforms.The document mandates that Professional Trading Firms (PPAETs) must deploy automated monitoring tools and establish a tiered processing mechanism for Suspicious Transaction Reports (STORs).For cross-border regulation, ESMA explicitly requires national regulatory authorities to share regulatory cases involving non-EU crypto firms and to regularly report to ESMA on cross-border cooperation obstacles. It is noteworthy that the guideline development process did not include a public consultation.ESMA explains that, since Article 125 of the MiCA regulation has already provided clear authorization, and the guidelines are aimed solely at regulatory authorities rather than market participants. National regulatory authorities must submit a compliance commitment letter to ESMA within two months, and if they choose partial exemptions, they must specify the details.

South Korea plans to issue new guidelines in the third quarter to lift the ban on institutional investment in cryptocurrencies

According to ChainCatcher, The Block reported that South Korea's financial regulatory agency announced on Wednesday plans to release comprehensive guidelines for institutional cryptocurrency investment in the third quarter. The Financial Services Commission made this announcement during a meeting with local cryptocurrency industry experts. While the investment guidelines for listed companies and professional investors are expected to be issued in the third quarter, the Financial Services Commission stated that its goal is to launch investment guidelines for non-profit organizations and cryptocurrency exchanges in April.The Financial Services Commission first announced in January that it would gradually lift the de facto ban on institutional investors investing in cryptocurrencies. Last month, the regulator revealed that it intends to first allow charities and universities to sell their cryptocurrency assets in the second quarter. The upcoming detailed guidelines further solidify South Korea's shift in stance towards cryptocurrencies, no longer strictly opposing the entry of crypto assets into traditional financial markets.Meanwhile, the Financial Services Commission has also begun developing a second set of rules for a two-part cryptocurrency regulatory framework, with the first set of rules launched last year. The second part of the cryptocurrency law will focus on stablecoins and regulating cryptocurrency business owners.
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