New EU regulatory for supervising the crypto-asset market- standardization of rules for detecting and preventing market abuse.

On 20 August 2025, Commission Delegated Regulation (EU) 2025/885 of 29 April 2025 was published, supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council regarding Regulatory Technical Standards (RTS) for the prevention and detection of market abuse in crypto-assets.

New EU RTS against abuse in the crypto-asset market

The new RTS aim to introduce harmonized solutions, procedures, and systems enabling the effective monitoring and reporting of suspected market abuses, including price manipulation, insider trading, and wash trades. The Regulation also specifies the templates to be used for reporting incidents and establishes mechanisms for coordination between competent supervisory authorities in cases of cross-border market abuse.

The Regulatory Technical Standards were developed pursuant to the delegation set out in Article 92(2) of the MiCA Regulation and primarily apply to persons professionally involved in the execution or facilitation of crypto-asset transactions. The RTS sets out obligations for maintaining effective monitoring systems and reporting suspicious activities, with the objective of enhancing market transparency and reducing the risk of fraudulent practices.

Obligations for exchanges, brokers, and crypto service providers

In practice, this means that crypto-asset service providers, including exchanges, brokers, and digital wallets, will be required to implement mechanisms for real-time detection of market abuse, including the analysis of transaction patterns and potentially suspicious behavior of market participants. The RTS also defines record-keeping obligations, including the maintenance of transaction logs and records of suspected abusive conduct, which must be made available to supervisory authorities for the purposes of inspections and investigations.

Cooperation between supervisory authorities and a broader EU strategy

Moreover, the Regulation introduces procedures for cooperation between supervisory authorities of EU Member States to coordinate actions in cases of cross-border crypto-asset market abuse. This is intended to ensure more effective enforcement of the rules and facilitate the exchange of information between authorities responsible for supervision and law enforcement.

The publication of the RTS represents a significant step toward the harmonization of supervisory standards in the EU crypto-asset market. The implementation of these regulations is expected to increase investor confidence, improve market transparency, and minimize the risk of regulatory gaps that could facilitate market abuse.

It is worth noting that the new rules form part of the broader EU agenda aimed at regulating the crypto-asset market while ensuring a high level of protection for market participants, alongside fostering innovation in the fintech sector.

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