diff --git a/blocks/api/raw-handling/comment-remover.js b/blocks/api/raw-handling/comment-remover.js
index 4cf85852bda42..93b580b5f44ea 100644
--- a/blocks/api/raw-handling/comment-remover.js
+++ b/blocks/api/raw-handling/comment-remover.js
@@ -8,50 +8,5 @@ export default function( node ) {
 		return;
 	}
 
-	if ( node.nodeValue.indexOf( 'more' ) === 0 ) {
-		// Grab any custom text in the comment
-		const customText = node.nodeValue.slice( 4 ).trim();
-
-		// When a <!--more--> comment is found, we need to look for any
-		// <!--noteaser--> sibling, but it may not be a direct sibling
-		// (whitespace typically lies in between)
-		let sibling = node;
-		let noTeaser = false;
-		while ( ( sibling = sibling.nextSibling ) ) {
-			if (
-				sibling.nodeType === COMMENT_NODE &&
-				sibling.nodeValue === 'noteaser'
-			) {
-				noTeaser = true;
-				sibling.parentNode.removeChild( sibling );
-				break;
-			}
-		}
-
-		// Conjure up a custom More element
-		const more = createMore( customText, noTeaser );
-
-		// Find the first ancestor to which the More element can be appended;
-		// appending to the closer P parents fails
-		let parent = node.parentNode;
-		while ( parent.nodeName.toLowerCase() === 'p' && parent.parentNode ) {
-			parent = parent.parentNode;
-		}
-		parent.appendChild( more );
-	}
-
 	node.parentNode.removeChild( node );
 }
-
-function createMore( customText, noTeaser ) {
-	const node = document.createElement( 'wp-block' );
-	node.dataset.block = 'core/more';
-	if ( customText ) {
-		node.dataset.customText = customText;
-	}
-	if ( noTeaser ) {
-		// "Boolean" data attribute
-		node.dataset.noTeaser = '';
-	}
-	return node;
-}
diff --git a/blocks/api/raw-handling/index.js b/blocks/api/raw-handling/index.js
index 9b6665e1eaaf1..da07a567f6abd 100644
--- a/blocks/api/raw-handling/index.js
+++ b/blocks/api/raw-handling/index.js
@@ -12,6 +12,7 @@ import { getBlockTypes, getUnknownTypeHandlerName } from '../registration';
 import { getBlockAttributes, parseWithGrammar } from '../parser';
 import normaliseBlocks from './normalise-blocks';
 import stripAttributes from './strip-attributes';
+import specialCommentConverter from './special-comment-converter';
 import commentRemover from './comment-remover';
 import createUnwrapper from './create-unwrapper';
 import isInlineContent from './is-inline-content';
@@ -96,6 +97,7 @@ export default function rawHandler( { HTML, plainText = '', mode = 'AUTO', tagNa
 			// Add semantic formatting before attributes are stripped.
 			formattingTransformer,
 			stripAttributes,
+			specialCommentConverter,
 			commentRemover,
 			createUnwrapper( ( node ) => ! isInline( node, tagName ) ),
 		] );
@@ -124,6 +126,7 @@ export default function rawHandler( { HTML, plainText = '', mode = 'AUTO', tagNa
 			// Add semantic formatting before attributes are stripped.
 			formattingTransformer,
 			stripAttributes,
+			specialCommentConverter,
 			commentRemover,
 			! canUserUseUnfilteredHTML && createUnwrapper( ( element ) => element.nodeName === 'IFRAME' ),
 			embeddedContentReducer,
diff --git a/blocks/api/raw-handling/special-comment-converter.js b/blocks/api/raw-handling/special-comment-converter.js
new file mode 100644
index 0000000000000..f3ea7828926de
--- /dev/null
+++ b/blocks/api/raw-handling/special-comment-converter.js
@@ -0,0 +1,74 @@
+/**
+ * Browser dependencies
+ */
+const { COMMENT_NODE } = window.Node;
+
+/**
+ * Looks for `<!--more-->` comments, as well as the `<!--more Some text-->`
+ * variant and its `<!--noteaser-->` companion, and replaces them with a custom
+ * element representing a future block.
+ *
+ * The custom element is a way to bypass the rest of the `raw-handling`
+ * transforms, which would eliminate other kinds of node with which to carry
+ * `<!--more-->`'s data: nodes with `data` attributes, empty paragraphs, etc.
+ *
+ * The custom element is then expected to be recognized by any registered
+ * block's `raw` transform.
+ *
+ * @param {Node} node The node to be processed.
+ * @return {void}
+ */
+export default function( node ) {
+	if (
+		node.nodeType !== COMMENT_NODE ||
+		node.nodeValue.indexOf( 'more' ) !== 0
+	) {
+		// We don't specificially look for `noteaser`, meaning that if one is
+		// found on its own (and not adjacent to `more`), it will be lost.
+		return;
+	}
+
+	// Grab any custom text in the comment
+	const customText = node.nodeValue.slice( 4 ).trim();
+
+	// When a `<!--more-->` comment is found, we need to look for any
+	// `<!--noteaser-->` sibling, but it may not be a direct sibling
+	// (whitespace typically lies in between)
+	let sibling = node;
+	let noTeaser = false;
+	while ( ( sibling = sibling.nextSibling ) ) {
+		if (
+			sibling.nodeType === COMMENT_NODE &&
+			sibling.nodeValue === 'noteaser'
+		) {
+			noTeaser = true;
+			sibling.parentNode.removeChild( sibling );
+			break;
+		}
+	}
+
+	// Conjure up a custom More element
+	const more = createMore( customText, noTeaser );
+
+	// Find the first ancestor to which the More element can be appended;
+	// appending to the closer P parents fails
+	let parent = node.parentNode;
+	while ( parent.nodeName.toLowerCase() === 'p' && parent.parentNode ) {
+		parent = parent.parentNode;
+	}
+	parent.appendChild( more );
+	node.parentNode.removeChild( node );
+}
+
+function createMore( customText, noTeaser ) {
+	const node = document.createElement( 'wp-block' );
+	node.dataset.block = 'core/more';
+	if ( customText ) {
+		node.dataset.customText = customText;
+	}
+	if ( noTeaser ) {
+		// "Boolean" data attribute
+		node.dataset.noTeaser = '';
+	}
+	return node;
+}