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The EU plans to tighten MiCA regulation and may prohibit sharing order books with non-EU exchanges.

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[The EU plans to tighten MiCA regulation, possibly prohibiting the sharing of order books with non-EU exchanges] The European Securities and Markets Authority (ESMA) is preparing to strengthen and centralize the regulation of the EU encryption asset market, further unifying the implementation of MiCA (Markets in Crypto-Assets Regulation). Regulatory authorities from multiple countries, including the French Financial Markets Authority (AMF), are calling for clear provisions within the MiCA framework that trading and execution activities (including local order books) must be located within the EU and subject to local regulation. ESMA's move may imply a ban on EU encryption platforms sharing order books with non-EU and non-MiCA regulated exchanges to ensure regulatory consistency.

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