🎉🎉Good news! The European Securities and Markets Authority (ESMA) defines Maximum Extractable Value (MEV) as a clear example of illegal market abuse in the draft Regulation on Markets in Crypto-Assets (MiCA). 🔍🔍

What does this mean? 🤔 Almost all EU regulated crypto businesses, including exchanges and brokers, are required to detect and report MEV instances through comprehensive "suspicious transaction or order reports" (STORs). 📝📝

However, the new standard has raised some concerns, and the feasibility of managing every instance report has become questionable. 😟😟

However, ESMA did not stop there. They suggested that authorities inside and outside the EU cooperate to sanction market abuse, and actors involved in MEV may face investigation and enforcement by international regulators. 👮‍♀️👮‍♂️

ESMA set a consultation feedback deadline of June 25, and the final standard is expected to have a significant impact on the EU crypto regulatory environment. 🌍🌍

We are optimistic about Bitcoin and hope that this new regulation will bring more fairness and transparency to the cryptocurrency market! 🎈🎈