TechFlow reported that on September 29, Cointelegraph reported that the Netherlands Authority for the Financial Markets (AFM) issued an announcement to remind investors to be wary of the risk of cryptocurrency "pump and dump" scams, and announced that the Crypto Asset Market Regulation (MiCA) will take effect on December 30. MiCA aims to improve the transparency and market integrity of the crypto industry and explicitly prohibit market manipulation.

The AFM will be responsible for monitoring and enforcing the new regulations in the Netherlands, and has investigated several cases of "pump and dump" and plans to strictly enforce the law after the implementation of MiCA. Hanzo van Beusekom, executive director of the AFM, stressed that such behavior undermines trust in the crypto market. However, Anastasija Plotnikova, CEO and co-founder of Fideum, warned that MiCA could lead to the relocation of crypto companies to the Middle East, increasing the risk of industry centralization.