The European Securities and Markets Authority (ESMA) has expressed concerns about the potential for maximum extractable value (MEV) to be used as a form of market abuse in its latest regulatory proposals under MiCA. MEV involves blockchain operators rearranging user transactions to maximize their own profits, which can negatively affect end-user profits. While some argue that MEV has a positive impact on improving blockchain network efficiency, others are calling for regulatory clarity on what constitutes market abuse in relation to MEV. ESMA is seeking clarity on who is responsible for malicious MEV tactics that constitute market abuse in response to the European Commission's request for advice on whether and when MEV can lead to market abuse. The European Crypto Initiative (EUCI) is seeking more clarity from ESMA on this issue, and ESMA's consultation seeking public feedback is open for comments until June 25.