ESMA calls for stricter scrutiny of crypto firms
Among other things, the regime aims to establish a uniform approach to registering and regulating crypto firms. Starting in January, firms must seek regulatory permission to operate within the European Union, although existing firms are grandfathered for up to 18 months, until mid-2026.
In a new report, the European Securities and Markets Authority (ESMA) examines the early results from Malta, one of the first jurisdictions to start authorizing crypto firms under the new rules — a process that has implications across the region, as authorization in one country allows firms to operate throughout the EU.
ESMA’s review found regulators in Malta didn’t require crypto firms to fully resolve certain material…
