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ESMA Flags Malta’s Crypto Licensing Shortcomings Under MiCA Framework
ESMA Flags Malta’s Crypto Licensing Shortcomings Under MiCA Framework
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BTCCSquare news:
The European Securities and Markets Authority has issued a critical peer review of Malta's crypto licensing practices, citing inadequate risk assessments and premature approvals under the EU's Markets in Crypto-Assets regulation. Malta's financial regulator authorized a crypto asset service provider despite unresolved material issues, raising compliance concerns.
While acknowledging Malta's technical capacity for oversight, ESMA emphasized the need for stricter enforcement during the authorization phase. The island nation remains among Europe's most active MiCA license issuers, having approved five CASP licenses since the regulation took effect—trailing only Germany and the Netherlands in volume.
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