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MiFID II

Definition ∞ MiFID II, the Markets in Financial Instruments Directive II, is a comprehensive regulatory framework implemented by the European Union. Its primary objectives include increasing transparency across European financial markets, strengthening investor protection, and enhancing market efficiency. It governs how investment firms operate and trade.
Context ∞ The principles and regulations established by MiFID II are increasingly referenced in discussions about governing digital asset markets, as global jurisdictions seek to adapt existing financial rules to cryptocurrency trading platforms and services. News often covers how these established regulatory concepts might be applied to the nascent crypto industry.

A translucent, frosted component featuring an intricate blue internal lattice structure rests upon a white, perforated grid. This specialized hardware module suggests a high-performance processing unit crucial for blockchain operations. Its design implies advanced thermal management and secure enclave capabilities, vital for robust transaction validation, cryptographic primitive execution, and maintaining network consensus. Such components are integral to ASIC mining rigs, validator nodes, and decentralized data centers, optimizing hashing power and supporting Web3 infrastructure with enhanced digital asset security.

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ESMA Standardizes EU Crypto Classification under MiFID II and MiCA

Firms must immediately integrate the new multi-factor classification test to harmonize product structuring and compliance across the EU.