TechFlow, July 10 — According to CoinDesk, the European Securities and Markets Authority (ESMA) has launched an investigation into Malta's implementation of the Markets in Crypto-Assets Regulation (MiCA). ESMA's Peer Review Committee (PRC) is focusing on Malta's authorization process for an unnamed cryptocurrency firm.
The investigation reveals that despite "significant unresolved issues or pending rectifications" during the application process, Maltese regulators approved the MiCA authorization application for the crypto-asset service provider (CASP). The review aims to assess whether Malta, as a member state of the EU's 28-nation trading bloc, has strictly adhered to MiCA's regulatory standards.
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