How Does MiCA Define ‘Insider Information’ in the Context of Crypto Trading?
MiCA's definition of insider information in crypto trading is aligned with traditional finance. It is defined as precise information that has not been made public, relating directly or indirectly to one or more crypto-assets or their issuers, and which, if it were made public, would be likely to have a significant effect on the price of those crypto-assets.
This definition is crucial for prosecuting insider dealing and front-running based on non-public knowledge.