Malta’s MFSA Partially Meets Expectations in MiCA Authorization Process for OKX and Other CASPs

Esma Peer Overview identifies gaps within the Mica Cas -authorization strategy of Malta

The European Securities and Markets Authority (ESMA) carried out an in depth peer evaluation of Malta’s Monetary Providers Authority (MFSA) aimed on the authorization course of for Crypto Asset Service Suppliers (CASPs) underneath the MICA framework. Whereas the MFSA one Strong supervisory infrastructure and ample personnelThe evaluation confirmed that the authorization course of for a particular CAP solely partially met ESMA’s expectations. This discovering underlines the challenges that Nationwide Competent Authorities (NCAs) are confronted with the uniform implementation of Mica’s regulatory requirements within the European Union.

De Peer Overview, launched in April 2025, was a part of ESMA’s broader technique to advertise supervisory convergence between NCAs. The report emphasised that the constant utility of authorization standards is crucial to scale back dangers inherent in crypto activists, whose enterprise fashions usually entail complicated and evolving challenges. The PRC of ESMA ordered that the MFSA carries out an intensive reassessment of any excellent points recognized in the course of the first authorization to ensure a sturdy compliance with the MICA necessities.