The Dutch Financial Markets Authority (AFM) has warned about the risks of cryptocurrency pump-and-dump schemes ahead of the upcoming regulatory implementation.

According to the AFM’s official press release, the Crypto Asset Markets Regulation (MiCAR) will come into force on December 30. Under MiCAR, market manipulations such as pump-and-dump will be explicitly prohibited in the European Union.

The new MiCAR regulation aims to increase transparency and market integrity in the crypto sector. The AFM stated that it will implement strict oversight once MiCAR comes into force.

What do you think about these regulations? Share your thoughts in the comments.