The Malta Financial Services Authority published remarks clarifying its position on proposals to centralise European-level supervision of key Crypto-Asset Service Providers (CASPs) and on the wider supervisory convergence agenda. It stated that it does not support centralisation at this stage, arguing that the Markets in Crypto-Assets Regulation (MiCA) has been applicable for only nine months and it is premature to assess its full impact on CASPs. The MFSA warned that introducing additional layers of supervision now could hinder competitiveness and innovation in digital assets. It backed the European Securities and Markets Authority’s (ESMA) work through the Digital Finance Standing Committee to promote supervisory convergence and monitor regulatory and supervisory arbitrage, and called for these efforts to be reinforced. The authority also confirmed it is implementing recommendations for Malta and other National Competent Authorities from the recently concluded ESMA Peer Review on CASP authorisation and supervision, and is keeping ESMA and other supervisors informed of progress.
Malta Financial Services Authority 2025-09-17
Malta Financial Services Authority does not support centralising supervision of key crypto-asset service providers and is implementing ESMA peer review recommendations
The Malta Financial Services Authority (MFSA) opposes centralising European-level supervision of Crypto-Asset Service Providers (CASPs), citing the premature nature of such measures given the recent implementation of the Markets in Crypto-Assets Regulation (MiCA). The MFSA supports the European Securities and Markets Authority's (ESMA) efforts to enhance supervisory convergence and is implementing recommendations from the ESMA Peer Review on CASP authorisation and supervision.