Malta regulator: No MiCA licenses at risk after EU review
2025-07-11 10:30:34
Main Idea
Malta's Financial Services Authority (MFSA) confirms that no MiCA licenses are at risk after an EU review, despite identified gaps, and highlights Malta's pioneering role in crypto regulation.
Key Points
1. The MFSA stated that no licenses issued under MiCA are at risk following a peer review by EU regulators, despite some identified gaps.
2. Malta has been a pioneer in crypto regulation since 2018, being the first to regulate DLT and financial services components related to crypto.
3. ESMA's review recommended improvements, including timely assessment of CASPs' growth plans and scrutiny of conflicts of interest in multi-service CASPs.
4. The MFSA expects to fully implement ESMA's recommendations by September 2025, focusing on cross-border supervision and addressing DeFi risks.
5. Malta's crypto oversight has faced skepticism, with 70% of initial license applicants failing in 2020 and concerns over regulatory stringency and oversight.
Description
Malta has sought to lead the way in EU crypto regulation, though early leadership has not come without its challenges.
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