European Union: European Securities and Markets Authority published guidelines on supervisory practices for competent authorities to prevent and detect market abuse under the Markets in Crypto Assets Regulation (MiCA)

On 29 April 2025, the European Securities and Markets Authority (ESMA) issued guidelines outlining supervisory practices for National Competent Authorities (NCAs) to address market abuse under the Markets in Crypto Assets Regulation (MiCA). The guidelines aim to support consistent supervisory practices across EU Member States, considering the unique aspects of crypto trading, such as cross-border issues and the role of social media. The guidelines stress the importance of risk-based and proportionate supervisory actions and encourage open communication between NCAs and market participants to maintain market integrity.