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

The investigation shows that despite the fact that the Crypto Asset Service Provider (CASP) had "significant unresolved or pending issues" during the application process, Malta's regulatory authorities still approved its MiCA authorization application. The purpose of this investigation is to assess whether Malta, as a member of the European Union's 28-country trading bloc, has strictly adhered to the regulatory standards of the MiCA regulations.