Odaily Planet Daily News: An analyst said that next week's EU parliamentary elections are a regulatory uncertainty for the cryptocurrency sector, and depending on the voting results, there may be crackdowns or support motions. According to reports, the United States has approved a Bitcoin spot ETF, while European Bitcoin exchange-traded products (ETPs) have still seen a large outflow of funds this year, with a total outflow of $506 million. Jag Kooner, head of derivatives at Bitfinex, said that the EU parliamentary elections next week may provide more clues on how cryptocurrencies are regulated in this market. Kooner said: "Right-wing shifts may lead to stricter cryptocurrency controls, and results supporting cryptocurrencies may accelerate the introduction of supportive regulations such as MiCA." (The Block) Earlier news, the European Securities and Markets Authority (ESMA) defined the maximum extractable value (MEV) as a clear example of illegal market abuse in its proposed draft technical standards under the "Markets in Crypto Assets" (MiCA) regulations. Patrick Hansen pointed out that 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). The new standard has raised concerns about the feasibility of managing every instance report. ESMA also recommends 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. The deadline for consultation feedback set by ESMA is June 25, and the final standard is expected to have a significant impact on the EU crypto regulatory environment.
