The European Securities and Markets Authority (ESMA) has classified Maximum Extractable Value (MEV) as a clear example of illegal market abuse under the proposed Markets in Crypto-Assets (MiCA) regulation. The draft standards, detailed in ESMA's third consultation package, specify that regulated crypto businesses, including exchanges and brokers, are required to detect and report instances of MEV. This move is part of the EU's broader effort to establish comprehensive regulatory standards for the crypto market. Industry stakeholders, including Circle's Paddi Hansen, have expressed concerns about the manageability of the draft regulations, urging for responses from the industry. The information was reported by Cryptoslate.