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The European Securities and Markets Authority has released the final guidelines for the implementation of the MiCA cryptocurrency regulation

ChainCatcher news, according to CoinDesk, the European Securities and Markets Authority (ESMA) released its final guidance on Tuesday to assist member states in implementing the upcoming regulations. ESMA published the final report on reverse solicitation, systems, the potential classification of cryptocurrencies as financial instruments, and technical standards for preventing market abuse.The EU's dedicated regulation for the cryptocurrency industry, the Markets in Crypto-Assets (MiCA) regulation, is set to come into effect on December 30 across 27 member states. However, some countries have yet to develop legislation to implement MiCA. The Bank of Portugal stated on Monday that, as the legislation has not yet been passed, it is currently unclear which national authority will be responsible for these rules. Industry associations noted that part of the delay in national authorities is due to the short time gap between ESMA's release of the final technical standards in October and the implementation date.ESMA Chair Verena Ross stated, "Looking ahead, as the transition period progresses, we will continue to provide guidance and work with all national competent authorities (NCAs) to ensure the smooth implementation of MiCA and support a level playing field through regulatory convergence actions."

Nirvana Finance has opened the claims for compensation and launched Nirvana V2

ChainCatcher news, the algorithmic stablecoin protocol Nirvana Finance announced that its V2 version will officially open to the public at 2 AM Beijing time on December 18 (UTC time December 17 at 6:00 PM). This restart not only completes the full compensation for the victims' funds from the 2022 hacking incident but also introduces a brand new security, governance, and token economic model.In addition, Nirvana V2 has launched a Market Driven Minting (MDM) framework, which ensures that the token ANA has upside potential and limited downside risk through a reserve-backed price floor mechanism. The protocol also plans to gradually expand to assets such as BTC and SOL.Previous news, former security engineer Shakeeb Ahmed was sentenced to 3 years in prison by U.S. District Judge Victor Marrero for attacking two decentralized cryptocurrency exchanges and stealing over $12 million worth of cryptocurrency. This is the first conviction case related to smart contract hacking.In July 2022, Ahmed attacked a cryptocurrency exchange using false pricing data and stole approximately $9 million worth of cryptocurrency. Subsequently, he attacked Nirvana Finance, exploiting a vulnerability in its smart contract to purchase cryptocurrency at a price lower than that set by the contract and sell it to Nirvana at a higher price, stealing nearly all of Nirvana's $3.6 million funds, which led to its closure shortly after being hacked.
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