<ul data-eligibleForWebStory="false"><li>The European Securities and Markets Authority (ESMA) reviewed Malta's oversight of Crypto Asset Service Providers (CASPs) and raised concerns about gaps in supervision.</li><li>ESMA found that Malta's Financial Services Authority (MFSA) has sufficient resources but had issues with approving a CASP with unresolved concerns like weak governance and inadequate AML controls.</li><li>ESMA emphasized the importance of strong cross-border supervision for CASPs and recommended the MFSA to address unresolved risks and enhance evaluations of growth plans and IT resilience.</li><li>The MFSA has licensed major cryptocurrency exchanges like Crypto.com, OKX, Gate.io, and Gemini, ensuring compliance with Malta's regulatory framework for virtual financial assets.</li></ul>

ESMA Reviews Malta’s CASP Licensing, Flags Gaps in Crypto Oversight

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