The European Securities and Markets Authority (ESMA) issued final guidance on Tuesday to help member states implement the upcoming regulations. ESMA published its final report on reverse solicitation, systems, cryptocurrencies that may constitute financial instruments, and draft technical standards for market abuse prevention. The European Union's dedicated regulations for the cryptocurrency industry, known as the Crypto Asset Markets (MiCA), are intended to come into force in 27 member states on December 30. But some countries have yet to develop legislation to implement the MiCA. Portugal's central bank said on Monday that it has not yet determined which national authority will be responsible for the rules as the legislation has not yet been passed. Industry associations said that part of the reason for the delays by national authorities is the short time lag between the release of the final technical standards by ESMA in October and the implementation date.