The Dutch Authority for Financial Markets (AFM) has warned of the risks of pump-and-dump schemes in cryptocurrency ahead of the implementation of new regulations.
- The MiCAR regulation, which prohibits market manipulation such as pump-and-dumps, comes into force on December 30.
- The AFM will monitor compliance with the new rules in the Netherlands.
MiCAR aims to increase transparency and fairness in the crypto market, but will not eliminate all risks.
- Pump-and-dump schemes undermine trust in cryptocurrencies, which is important for their long-term potential.
Some companies may move to the Middle East due to the new regulations.
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