In a scene that could easily have been plucked from the dusty archives of bureaucratic drama, the European Securities and Markets Authority (ESMA) has, with impeccable timing and unerring precision, wrapped up a peer review of the notorious Malta Financial Services Authority (MFSA). The topic of scrutiny? That small, yet ever-growing, beast known as crypto asset service provider (CASP) licensing. And guess what? According to the ESMA, Malta’s approach was, to put it kindly, a bit underwhelming. Despite having more resources than a lavish Venetian ball, the island’s handling of crypto licensing left a lot to be desired. Who would have thought? 🤔
This review, which began in April (because why not keep the suspense going for a few months?), is part of the EU’s grand scheme to ensure every member state plays nice when it comes to implementing the MiCA regulations. ESMA’s verdict? Malta’s oversight, like a half-baked soufflé, was lacking key ingredients—most notably, a good dose of pre-licensing attention. They basically said, “Let’s solve the problems *before* granting licenses, not afterwards when the damage is done.” Genius, right? 🙄
Now, while the review stopped short of publicly naming the infamous crypto firm in question, Malta currently boasts four crypto giants with MiCA licenses: Bitpanda, Crypto.com, OKX, and ZBX. Some of them have already felt the sting of regulatory wrath, with Okcoin Europe receiving a fine of $1.2 million earlier this year. What’s next, Malta? A fire-breathing dragon coming to collect late fees? 🔥🐉
Industry experts—who probably wear monocles and drink gin—are betting this review won’t lead to the catastrophic revocation of licenses. However, there’s still the chance it will force the MFSA to reconsider their easygoing ways of approving applicants. Juan Ignacio Ibañez of the MiCA Crypto Alliance—whose name sounds like it should be carved into the side of a mountain—pointed out the delicate dance between Malta’s relaxed approach and ESMA’s more “let’s catch the problems early” philosophy. It’s almost like watching two dance partners trying to figure out who’s leading. 💃🕺
And though ESMA doesn’t have the almighty power to dictate Malta’s licensing decisions (thankfully, they’re not wizards), their findings will undoubtedly ripple through Europe’s regulatory scene like a pebble tossed into a pond. MiCA’s full effect is coming, whether we like it or not. And let’s be honest, we’re all eagerly waiting for that show to unfold. 🍿
Read More
- SOL PREDICTION. SOL cryptocurrency
- ETH PREDICTION. ETH cryptocurrency
- USD TRY PREDICTION
- SHIB PREDICTION. SHIB cryptocurrency
- WLD PREDICTION. WLD cryptocurrency
- EUR AUD PREDICTION
- CRO PREDICTION. CRO cryptocurrency
- EUR USD PREDICTION
- DOGE PREDICTION. DOGE cryptocurrency
- GBP CNY PREDICTION
2025-07-10 23:53