The EU to Ban Sharing Crypto Order Books with Non-MiCA Exchanges #

Having set up strict regulations for the trade and utility of digital assets under the umbrella of Markets in Crypto-Assets (MiCA), the European Securities and Markets Authority (ESMA) is preparing to strengthen and centralize the supervision of the EU crypto asset market even further.

Reportedly, regulatory bodies from multiple MiCA-compliant countries within the EU, including the French Financial Markets Authority (AMF),  are calling for more clarity within the MiCA framework. In this instance, the regulating bodies are inquiring in regards to rules surrounding trading and execution activities (including local order books) located within the EU and how they’d be subject to local supervision. If the motion is accepted, it may lead to prohibiting EU crypto platforms from sharing order books with non-EU and non-MiCA-regulated exchanges, in order to ensure regulatory consistency.