The European Securities and Markets Authority (ESMA) expressed criticism regarding Malta’s Financial Services Authority (MFSA) for not fully meeting expectations in the crypto asset service provider (CASP) authorization process. The report identified several issues that need timely attention to improve the integrity of Malta’s licensing framework.
A review of the MiCA framework initiation launched in April 2025 revealed that while MFSA has the necessary expertise, significant concerns remain unresolved. The specific names of the CASPs in question were not disclosed, leading to uncertainty about the potential impacts on existing licenses.
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