TL:DR – the proposed market abuse rules for crypto-assets under MiCA are based heavily on the existing TradFi rules set out in MAR. Potential challenges facing crypto firms operating in the EU include: the expansive scope of Persons Professionally Arranging or Executing Transactions (PPAETs); prohibition of certain business practices (e.g. MEV); and difficulty attributing responsibility for STOR submission. Introduction to the Third Consultation Paper The European Securities