🚨 Malta’s Crypto Licenses Under Fire? 🇲🇹⚖️
The EU’s top watchdog ESMA just dropped a 🔥 peer review bombshell on Malta’s Financial Services Authority (MFSA).
📉 While Malta has licensed major players like Crypto.com, OKX, Bitpanda, and ZBX under MiCA, the EU says Malta’s authorization process only "partially met expectations". Uh-oh. 😬
The problem? An unnamed CASP got approved despite “pending material issues.”
ESMA wants ALL EU regulators to tighten their checks, especially as new license applications flood in. 🚨
🔎 The MFSA scored well on staffing and resources…
✅ But failed to fully satisfy ESMA on authorization transparency and enforcement strength.
💥 So, will licenses be revoked? Experts say no — but the warning is loud and clear.
💬 “MFSA wants to monitor post-license,” says MiCA Alliance.
💬 “ESMA prefers rejecting if issues aren’t resolved,” others note.
Meanwhile, Malta’s been in the spotlight before — with OKX fined $1.2M in April.
This isn’t just about Malta.
🔐 It’s a wake-up call for ALL EU crypto regulators.
Consistency is key, and MiCA isn’t messing around. 🧱