ESMA Investigates Whether Malta's Authorization of Crypto Companies Violates MiCA Regulations

On July 10, according to CoinDesk, the European Securities and Markets Authority (ESMA) is investigating Malta's implementation of the Markets in Crypto-Assets (MiCA) framework. ESMA's Peer Review Committee (PRC) is focusing on Malta's authorization process for an unnamed crypto company.

The investigation reveals that Maltese regulators approved the MiCA authorization application of a crypto-asset service provider (CASP) despite "significant issues remaining unresolved or requiring rectification" during the application process. The investigation aims to assess whether Malta, as a member of the EU's 28-nation trade bloc, strictly adheres to the regulatory standards of MiCA regulations. [Deep Tide TechFlow]