On April 29, 2025
The European Securities and Markets Authority (ESMA) published guidelines to enhance supervisory practices for preventing and detecting market abuse in crypto assets under the Markets in Crypto Assets Regulation (MiCA). Tailored for National Competent Authorities (NCAs), the guidelines draw on ESMA’s experience with the Market Abuse Regulation (MAR) and address the unique aspects of crypto trading, such as its cross-border nature and heavy reliance on social media. They emphasize risk-based, proportionate supervision and aim to foster a unified supervisory culture through industry dialogue and NCA collaboration. The guidelines will be translated into all EU languages, take effect three months after publication, and require NCAs to confirm compliance within two months, though ESMA encourages immediate adoption of the principles.