There is no Mika license in Malta at risk after reviewing ESMA: MFSA star-news.press/wp

Malta’s cryptocurrency organizer claimed that none of the local licenses issued under markets in the regulation of encrypted assets (MICA) is at risk after reviewing the recent peers by the European Union organizers.

“There is no Mika license in Malta at the risk of cancellation or re -evaluation as a result of the results of the peer review,” MFSA spokesman told Cointelegraph, adding that the authority has already started to address all the problems specified in the review.

This statement comes after the European Securities and Markets Authority (ESMA), the main supervisory body in Europe that oversees compliance with MICA, on Thursday, reviewed the pendants on some gaps in the MICA license by the MFSA.

MFSA said that Malta’s continuous commitment to close cooperation with the European Union authorities and its role as a proactive leader in regulating encryption is not a question, despite the level of doubt in society.

Malta is a pioneer in the regulation of encryption in the European Union

A MFSA spokesman said the ESMA report realized the organizer as a very effective supervisor.

“This is not surprising that Malta was a pioneer in the regulation of encryption in 2018,” said a spokesman.

“I think the review draws Malta in a good light, many people forget that Maltese were organizing the entire winners (coding service providers) before Mika was thinking,” said XReg Consulting Nathan Catania.

When providing three encryption bills in 2018, the Maltese government emerged as a pioneer in the organization of encryption in Europe.

“Malta is the first country to organize DLT He said In a statement in July 2018.

Malta to implement the guidance by September 2025

In the review, ESMA has identified many recommendations to MFSA and other specialized national authorities (NCAS) in the European Union to ensure appropriate supervision under MICA.

The European Union organizer is specifically highlighted the need to evaluate the superior growth plans in a timely manner, scrutinize interest in the multi -service category and evaluate risk from exposure to decentralized financing (Defi) and unorganized services.

“We are confident that this review gives more confidence to those who are considering licensing in Malta and our peers regarding the framework of our work to supervise the border”, CEO of MFSA Kenneth Farrugia male In an official statement in response to the review.

Related to: The sale of the distinctive code for pump.fun has been confirmed, users prevent Europe: bybit

According to the agency, MFSA expects the full report recommendations to be implemented by September.

ESMA highlights the effects of NCAS

Although focus on Malta in its latest peer review, ESMA stressed that the review targets all NCAS across the European Union.

“ESMA sought to review the MFSA approach to permit and supervise the company, but not to review the specific company’s performance,” said an ESMA COINTELGRAP spokesman, adding:

“In the future, ESMA will continue to use the peer review tool when it is suitable, including in relation to other judicial states and topics.”

The organizer also emphasized that the vision of the peers includes recommendations for consideration in the continuous supervisory work, as well as in the future procedures in the mandate.

Malta censorship control is not strange to doubts

Although many reviews of ESMA, which is imagined in the supervision of Malta’s encryption in general, the country’s approach to overseeing encryption has faced its share of doubt.

Malta has long followed her vision to become a “Blockchain Island”, which requires encryption platforms for a license for financial services in 2018. However, in 2020, 70 % of the initial applicants to fail To secure the license, with many speculation that the rules were very strict.

In 2021, a unit in the Malta Chamber of Commerce rejected allegations that the country had it to fail To maintain the appropriate regulatory control of cryptocurrencies.

In 2022, The Times of Malta is also I mentioned The collapsed encryption exchange had FTX for companies registered in Malta, but MFSA said it was not licensed to provide services.

Some investigations Duplicate To the “fast and seasonal approach” of Malta to attract encryption companies, with highlighting that 85 % of the encryption companies registered in Malta eventually left the island after the two -year transition period as of 2023.

magazine: Inside 30,000 Phone BOT FARM Resealing Crypto Airroprops from real users