eu regulator flags malta’s partial compliance in mica crypto licensing

Europe’s financial watchdog, ESMA, has reviewed Malta’s crypto asset service provider (CASP) licensing under the MiCA framework. The report finds Malta’s Financial Services Authority (MFSA) “partially met expectations” in authorizing at least one CASP, urging closer monitoring and timely adjustments in supervisory practices. While Malta shows strong sector expertise and resources, the authorization process for the specific CASP raised concerns over adequacy and completeness. ESMA’s peer review stresses consistent standards across EU national regulators are critical as MiCA’s unified crypto rules roll out. No names were disclosed, so it’s unclear if current licenses are affected. Experts suggest the report signals differences in regulatory approaches rather than license revocation risks. Malta currently licenses four MiCA CASPs, including Bitpanda, Crypto.com, OKX, and ZBX. This episode highlights challenges in implementing the EU’s first comprehensive crypto regulatory regime, emphasizing ongoing scrutiny and alignment among member states. #Finance #MakeMoney #CryptoRegulation