Citat:
Ursprungligen postat av
kebabmedpommes
Jämförelsen mellan t ex Binance och en riktig börs, t ex Stockholmsbörsen, vore ju helt bisarr. Den förstnämnda är ingen börs utan en marknadsaktör med privata intressen och noll insyn från tillsynsmyndigheter.
Binance har skyldighet att rapportera då nytt regelverk kom på plats förra veckan (MiCA).
Axplock från MiCA:
The issuers must be registered as legal entities in an EU Member State
Having a centralized institution responsible for pursuing the assertions made to investors at the time of offering makes it much easier to obtain accountability in cases of misrepresentation and fraud.
Expected effects
As is the case with all types of crypto-assets that MiCA sets out to regulate, the draft Regulation will radically improve transparency and investors protection with regard to asset-referenced and e-money tokens, although at an increased cost for issuers. Measures requiring the continuous disclosure of information, such as the monthly publication of data regarding the number of tokens in circulation as well as the mandatory commissioning of independent reserve asset audits, will serve to reassure investors of the true value of their assets, discrediting ungrounded public speculations. Yet, auditing services, for example, could prove to be quite expensive given the small number of firms that currently specialize in reviewing such assets.
Disclosure of inside information
One of the pillars of preventing market abuse and manipulation is ensuring that all market participants have access to equal information. In order to achieve this, MiCA will require crypto-asset issuers to publicly disclose inside information regarding their company and tokens as soon as possible and in way that guarantees its quick and widespread dissemination among the public.
According to the draft Regulation all data concerning issuers that is likely to have a significant impact on the value of their crypto-assets falls under the definition of inside information.
Exceptionally, issuers can choose to delay the disclosure of inside information but only in circumstances when to do otherwise would prejudice the company’s legitimate interests. In order to be lawful, delays should not create a risk of misleading the public and the confidentiality of the information concerned must be guaranteed.
Market manipulation
Market manipulation is a term that lacks regulatory definition due to the complex combination of factors necessary to establish its presence.
Therefore the upcoming MiCA Regulation resort to generalized descriptions of behavior that may give rise to market manipulation.
Examples of this behavior include ‘pump and dump’ schemes, which involve significant crypto-asset purchases that artificially push up prices and encourage other unsuspecting investors to buy as well as unfair trading techniques such as ‘spoofing’ and ‘layering’, whereby fraudsters place multiple transaction orders to seemingly boost trading volumes but then cancel them right before execution. The other major approach to market manipulation is the outright public dissemination of false or misleading information that is likely to deceive market participants about the genuine supply and demand for a particular crypto-asset.