Maximal Extractable Value

Transactions on the Ethereum blockchain are influenced by special trading techniques known as Maximum Extractable Value (MEV). This thesis examines the extent to which MEV is permitted under the newly created market abuse law for crypto assets in the EU MiCAR regulation. It examines the four MEV methods of sandwich trading, DEX arbitrage, liquidations, and transaction chain ordering.

The thesis provides practical insights into the extent to which the respective actors involved in MEV trading are liable to prosecution for market manipulation and insider trading. Concurrently, the boundaries of acceptable practices are set out in a solution-oriented manner.