Dutch regulatory agency warns investors of manipulation in cryptocurrency market

According to Cointelegraph, the Dutch Financial Markets Authority (AFM) warned investors about the risks of "pump and dump" scams in the cryptocurrency market before the implementation of the European Union's Crypto Asset Market Regulation (MiCA) in December. MiCA will prohibit illegal activities, including such market manipulation, and AFM will supervise and enforce the new regulations in the Netherlands. AFM pointed out that pull sell scams artificially inflate asset prices by spreading false information, and then quickly sell for profit, damaging investor confidence. AFM plans to strictly enforce relevant regulations after MiCA takes effect to improve market transparency and protect investors.