ESMA calls for cybersecurity audits in crypto sector
In September, the EC raised concerns with a couple of those proposed standards, citing concerns about privacy and regulatory burden, and it called on ESMA to revise its proposed standards.
In a regulatory opinion issued on Wednesday, ESMA acknowledged some of the issues raised by European policymakers, but it also reiterated the need to ensure adequate safeguards for investors when dealing with crypto firms.
“This will increase the resilience of the cryptoassets market and enhance investor protection in the cryptoassets space,” ESMA said.
Specifically, ESMA recommended that the MiCA rules require an independent cybersecurity audit to ensure that crypto firms “are subject to a thorough screening process … prior to…
