ESMA 計劃限制礦工和驗證者利用的 MEV（最大可提取價值）

歐洲證券和市場管理局（ESMA）計劃限制礦工和驗證者利用的 MEV（最大可提取價值）。

The European Securities and Markets Authority (ESMA) is planning to put a limit on the MEV (Maximum Extractable Value) that miners and validators can use.

歐洲證券和市場管理局（ESMA）計劃對礦工和驗證者可以使用的 MEV（最大可提取價值）進行限制。

Patrick Hansen, who is in charge of Strategy and Policy for the EU region at Circle, said that the EU wants to make MEV "illegal" when talking about the plan.

Circle 負責歐盟地區戰略和政策的 Patrick Hansen 在談到該計劃時表示，歐盟希望使 MEV「非法」。

“MEV is treated as a clear example of illegal market abuse by EU draft standards specifying MiCA rules.”

“歐盟規定 MiCA 規則的標準草案將 MEV 視為非法市場濫用的明顯例子。”

ESMA's implementation guidelines for various rules in MiCA (Markets in Crypto Assets Regulation) include the MEV restriction (Markets in Crypto Assets Regulation).

ESMA 針對 MiCA（加密資產市場監管）各項規則的實施指南包括 MEV 限制（加密資產市場監管）。

For those who don't know, MEV is a way for miners and validators to make more money by changing the order of transactions to give priority to those that pay more.

對於那些不知道的人來說，MEV 是礦工和驗證者透過改變交易順序以優先考慮那些支付更多費用的人來賺更多錢的一種方式。

In ESMA's plan (page 10), the "re-ordering" part of MEV is seen as "market abuse."

在ESMA的計劃（第10頁）中，MEV的「重新排序」部分被視為「市場濫用」。

“Second, ESMA notes that where MiCA specifies that orders, transactions, or other aspects of the distributed ledger technology may suggest the existence of market abuse, e.g., the well-known Maximum Extractable Value (MEV), whereby a miner/validator can take advantage of its ability to arbitrarily reorder transactions to front-run a specific transaction(s) and therefore make a profit.”

「其次，ESMA 指出，MiCA 指定訂單、交易或分散式帳本技術的其他方面可能表明存在市場濫用，例如眾所周知的最大可提取價值（MEV），礦工/驗證者可以據此採取利用其任意重新排序交易的能力來搶先執行特定交易，從而獲利。

Before the end of June, stakeholders are asked to give their thoughts on the draft standards. Brokers and cryptocurrency exchanges will be required to notify authorities of any suspicious transactions or re-orders if the standards are implemented.

六月底之前，請利害關係人就標準草案提出想法。如果實施這些標準，經紀商和加密貨幣交易所將被要求將任何可疑交易或重新訂單通知當局。

However, Hansen highlighted the difficulty in putting the plan into action if it is approved, pointing out that each instance of MEV must be reported and that MEV operators may face indictments and charges.

然而，漢森強調，如果該計劃獲得批准，將很難付諸實施，並指出必須報告每個 MEV 實例，並且 MEV 運營商可能面臨起訴和指控。

“Actors involved in MEV could become the target of investigations and enforcements.”

“參與 MEV 的參與者可能會成為調查和執法的目標。”

The EU's actions appear to follow those of the US. Two brothers were recently charged by the US DoJ for exploiting a complex MEV technique on the Ethereum network to the tune of $25 million.

歐盟的行動似乎追隨美國的腳步。最近，兩兄弟因在以太坊網路上利用複雜的 MEV 技術而被美國司法部指控價值 2500 萬美元。

It was the first time that charges had been brought in a scenario involving MEV. However, with the EU's plan, it appears that more operators could face charges.

這是首次在涉及 MEV 的情況下提出指控。然而，根據歐盟的計劃，似乎有更多運營商可能面臨指控。

Robert Sasu of MultiversX, for his part, stated that "MEV" was theft and expressed support for the EU's plan.

MultiversX 的 Robert Sasu 則表示「MEV」是盜竊行為，並表示支持歐盟的計畫。

“MEV is theft. #blockchain world was supposed to create a better world, not to go into the frenzy of greed.”

「MEV 就是偷竊。 #區塊鏈世界應該創造一個更美好的世界，而不是陷入貪婪的瘋狂。

However, the EU's proposal came under fire from the cryptocurrency analytics platform Coinalyze, which stated,

然而，歐盟的提議遭到了加密貨幣分析平台 Coinalyze 的批評，該平台表示，

“The EU regulators are very determined to destroy the crypto industry in EU. There is no central bank in the world that hates crypto as much as ECB does.”

「歐盟監管機構決心摧毀歐盟的加密貨幣產業。世界上沒有哪家央行像歐洲央行那樣討厭加密貨幣。

The proposal is currently only a draft standard; however, if adopted, it could have far-reaching implications, particularly for validators or miners operating within the EU and beyond.

該提案目前只是一個標準草案；然而，如果被採用，它可能會產生深遠的影響，特別是對於在歐盟內外運作的驗證者或礦工而言。