Dutch AFM: Crypto Asset Market Regulation will take effect on December 30

Odaily News The Netherlands Authority for the Financial Markets (AFM) has warned investors of the risks of cryptocurrency pump and dump scams and announced that the Regulation on Markets in Crypto Assets (MiCA) will come into effect on December 30. MiCA explicitly prohibits market manipulation, and the AFM will be responsible for supervising and enforcing the new regulations in the Netherlands. The AFM said that MiCA aims to increase transparency and market integrity in the crypto industry, although it cannot eliminate all risks. To this end, the AFM recently investigated several cases of "pump and dump" and plans to strictly enforce the law after the implementation of MiCA. In addition, industry experts warn that MiCA may cause crypto companies to move to the Middle East and increase the centralization risk of the industry.