Europe gears up for new crypto rules
Among other things, the papers include regulatory standards on market abuse that specify the systems and procedures required to prevent and detect market abuse in cryptoassets, including procedures to ensure co-operation in the detection and sanctioning of cross-border cases.
“These rules will enable supervisors to address suspicions of market abuse and follow up with enforcement actions where necessary,” ESMA said in a release.
It also includes guidance on suitability requirements that sets out how firms that provide advice on cryptoassets or portfolio management of cryptoassets have to give suitable recommendations or make suitable investment decisions on clients’ behalf.
Further, ESMA provided guidance on…
