EU watchdog urges stricter cybersecurity rules for crypto platforms amid rising attacks
The European Securities and Markets Authority (ESMA) has called on EU lawmakers to strengthen crypto regulations by mandating external cybersecurity audits for companies in the sector, the Financial Times reported on Oct. 16.
This recommendation comes as the crypto industry faces an alarming increase in cyberattacks, which are putting consumer protections at risk. It is part of proposed amendments to the upcoming regulatory regime.
Mandatory audits
In a proposal to amend the Markets in Crypto-Assets Regulation (MiCA), set to be fully enforced in December 2024, ESMA advocates for enhanced measures to secure crypto platforms.
Central to the proposal is a requirement for companies to undergo third-party audits to assess and address potential…
