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The European Securities and Markets Authority (ESMA) has criticized Malta’s handling of crypto license approvals under MiCA, citing inadequate oversight. The regulator flagged deficiencies in risk assessment and compliance during a recent authorization process.
- ESMA found Malta’s MFSA approved a CASP despite unresolved compliance risks under MiCA.
- Malta ranks among the EU’s top MiCA license issuers, with five approvals to date.
- ESMA calls for tighter oversight on governance, DeFi, and customer risk disclosures.
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