Netherlands AFM: The "Regulation on the Supervision of the Crypto Asset Market" will take effect on December 30

ChainCatcher news, the Dutch Authority for the Financial Markets (AFM) reminds investors to be aware of the risks of cryptocurrency "pump and dump" scams and announces that the Markets in Crypto-Assets Regulation (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 states that MiCA aims to enhance transparency and market integrity in the crypto industry, although it cannot eliminate all risks. To this end, the AFM has recently investigated several "pump and dump" cases and plans to enforce strict measures after the implementation of MiCA.

Additionally, industry experts warn that MiCA may lead to crypto companies relocating to the Middle East, increasing the centralization risks in the industry.