The AMF stressed that only crypto firms who have been approved under the MiCA regulation will be able to benefit from the European passport and provide their services across all EU member countries.
The individuals allegedly used a trading bot to place thousands of "spoof orders" and "wash trades" to manipulate the market and gained around $2 million in profit.
DFPI claims that Maxpread Technologies allegedly used an AI-generated avatar called"Michael Vanes" to pretend to be its CEO and promote its products through YouTube advertisements.
MiCA law allows crypto exchanges and digital-wallet companies to offer regulated services across the bloc and requires stablecoin issuers to hold sufficient reserves