Malta’s MiCA licensing comes under scrutiny from EU regulator

Malta’s MFSA only “partially met expectations” in the MiCA authorization process for a specific CASP, according to the EU securities regulator.

Malta’s cryptocurrency licensing process has come under scrutiny from the European Securities and Markets Authority (ESMA), Europe’s primary supervisory body overseeing the Markets in Crypto-Assets Regulation (MiCA).

The ESMA on Thursday released a review on the authorization process of crypto asset service providers (CASPs) by Malta’s Financial Services Authority (MFSA), highlighting several shortfalls and proposing a set of recommendations.

Despite saying the MFSA met certain expectations in supervisory setup and staffing, the EU watchdog said the Maltese authorities only “partially met expectations” in the authorization process for an unnamed CASP.

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