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[EU Plans to Tighten MiCA Regulations, May Ban Order Book Sharing with Non-EU Exchanges] The European Securities and Markets Authority (ESMA) is preparing to strengthen the regulation of the EU crypto asset market, focusing on the unified implementation of MiCA (Markets in Crypto-Assets Regulation). Regulatory bodies from multiple countries, including the French Financial Markets Authority (AMF), have proposed explicitly requiring trading and execution activities to be conducted within the EU and subject to local regulation under the MiCA framework. ESMA's plan may prohibit EU crypto platforms from sharing order books with non-EU exchanges that are not regulated under MiCA, to ensure regulatory consistency.