TechFlow reports, on September 29, according to Cointelegraph, the Netherlands Authority for the Financial Markets (AFM) issued a public notice warning investors about the risks of cryptocurrency "pump-and-dump" scams and announced that the Markets in Crypto-Assets Regulation (MiCA) will take effect on December 30. MiCA aims to enhance transparency and market integrity within the crypto industry and explicitly prohibits market manipulation.
The AFM will oversee and enforce the new rules in the Netherlands and has already investigated multiple "pump-and-dump" cases, planning strict enforcement after MiCA's implementation. Hanzo van Beusekom, Executive Director of AFM, emphasized that such activities undermine trust in the crypto market. However, Anastasija Plotnikova, CEO and Co-Founder of Fideum, warned that MiCA might drive crypto firms to relocate to the Middle East, increasing the risk of industry centralization.
