全球监管机构似乎在如何处理最大可采价值(MEV)这一模糊做法上存在分歧,欧盟证券和市场管理局(ESMA)的最新咨询文件指出,MEV可能被视为市场滥用。
Published on May 25,ESMA’sthird draft咨询under the European Union (EU)’sMarkets in Crypto Assets (MiCA) regulations explicitly describes MEV as an example of“market abuse.”
该报称:“矿工/验证器可以利用其任意重新排序交易的能力,提前运行特定交易,从而获利的MEV……可能表明存在市场滥用。”。
MEV描述了一些技术,如验证器和区块提议者使用的前置或三明治攻击,通过瞄准与链上交易相关的最大允许滑动来重新排序交易并提取利润。
According toFlashbots, an MEV research organization, roughly 518,000 Ether hasbeen extractedfrom the Ethereum network through MEV since Sept. 15, 2022.
将MEV归类为市场滥用可能会给受欧盟监管的加密货币公司带来重大障碍,咨询表明,总部位于欧盟的加密货币企业将被要求检测MEV并将其报告为“可疑交易或订单报告”(STOR)。
“Almost all regulated crypto businesses in the EU (exchanges, brokers, etc.) would need to detect and report instances of MEV through complex [STORs],”说Patrick Hansen, the senior director of EU strategy and policy at Circle.“The ESMA STOR template alone is6pages long. How would this be manageable in practice if literally [every] single instance of MEV would need to be reported?”
Hansen还指出,ESMA补充道,全球当局可以合作制裁市场滥用行为,并警告称,开展小额电子商务的实体可能成为监管调查和执法行动的目标。
标准草案将在未来几个月内定稿,ESMA鼓励利益相关者在6月25日前向其第三次磋商提供反馈。
汉森敦促道:“我强烈建议任何参与MEV的人参与协商并联系ESMA。”。
However, not everyone is concerned by ESMA's draft regulations, with Davyegld, an ambassador of Soul Protocol, 争论 that MEV harms ordinary blockchain users.
The latest ESMA consultation comes two weeks after the U.S. Department of Justice (DoJ)似乎使合法化the practice of MEV extraction.
A May 15起诉charging a pair of brothers over money laundering connected to million in funds obtained by targeting MEV bots with false signatures andexploiting a flaw in MEV-boost, popular MEV software, to trickthe bots into giving up their payload.
起诉书将此次攻击描述为“篡改绝大多数以太坊用户所依赖的既定协议……威胁以太坊区块链的稳定性和完整性”
Solidus Labs联合创始人陈阿拉德在接受The Defiant采访时表示,司法部在“可接受的MEV提取策略”和构成“市场滥用或欺诈”的策略之间划清了界限
Arad告诉The Defiant:“司法部似乎将更‘常见’的交易重新排序策略(如夹持)排除在犯罪活动分类之外。”。“该行业最大的收获应该是——无论资产类别或既定监管的程度如何,欺诈和操纵总是错误和非法的。”