The European Securities and Markets Authority (ESMA) has published a report aimed at preventing violations of Markets in Crypto Assets (MiCA) rules by companies dealing with foreign firms.

- ESMA is committed to preventing loopholes from being used to attract unauthorized EU customers.

- Companies that do not have permission to operate in the EU cannot provide services to EU clients unless the clients themselves contact them.

- ESMA considers it illegal to systematically route orders to foreign trading platforms without alternative options.

- It is also prohibited to use the brand of a foreign exchange to attract clients from the EU if this makes it difficult to distinguish between services.

- MiCA allows EU brokers to offer crypto asset exchanges and enter into agreements with non-EU companies to manage liquidity and hedge risks.

This report highlights the importance of compliance to protect investors and ensure fair competition in the crypto asset market.