Malta pushes back against EU centralization of crypto oversight
The Malta financial regulator has opposed the push from other European member states to give the European Securities and Markets Authority (ESMA) oversight over crypto firms. The latest opposition from Malta adds to the division among EU regulators over how to apply the bloc’s new Markets in Crypto-Assets (MiCA) framework.
France, Italy, and Austria urged ESMA to oversee major crypto firms directly. The countries highlighted concerns that the national regulators may interpret the MiCA rules inconsistently, potentially creating regulatory loopholes. France’s financial regulating firm has also suggested that it may challenge the crypto licences other EU states offer if it believes the standards applied are uneven.
