Attention to all so-called “crypto influencers”: profiting from shilling crypto assets online, without disclosing this to your audience, will be considered market manipulation by the European Union under the new MiCA Regulation!
Proposal for a Regulation of the European Parliament and of the Council on Markets in Crypto-assets, and amending Directive (EU) 2019/1937 (MiCA) – Letter to the Chair of the European Parliament Committee on Economic and Monetary Affairs
Article 80: Prohibition of market manipulation (page 238 – 240)
The following behaviour shall, inter alia, be considered as market manipulation:
"Taking advantage of occasional or regular access to the traditional or electronic media by voicing an opinion about a crypto-asset, while having previously taken positions on that crypto-asset, and profiting subsequently from the impact of the opinions voiced on the price of that crypto-asset, without having simultaneously disclosed that conflict of interest to the public in a proper and effective way".
SOURCE: https://data.consilium.europa.eu/doc/document/ST-13198-2022-INIT/en/pdf
Some of those who are bringing this to the attention of the general public: ZachXBT and Patrick Hansen.
As the EU tends to set international standards through the "Brussels Effect", lawmakers in Washington DC may follow suit.
submitted by /u/BelgianPolitics
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