Malta's Financial Services Authority (MFSA) has stated that none of the licenses issued under the EU's Markets in Crypto-Assets Regulation (MiCA) are in jeopardy following a recent peer review by European regulators. A spokesperson emphasized that the MFSA is addressing the issues identified in the review, and noted Malta’s strong reputation in crypto regulation since 2018. Despite skepticism in the cryptocurrency community, the review highlighted Malta as a proactive leader in regulation. The European Securities and Markets Authority (ESMA) provided recommendations for enhancing supervision across the EU, emphasizing the need for careful evaluation of crypto asset service providers (CASPs). MFSA CEO Kenneth Farrugia expressed confidence that the review would bolster trust in Malta's licensing framework. The MFSA aims to fully implement the report’s recommendations by September 2025, notwithstanding previous concerns regarding the stringent licensing process that led to a high withdrawal rate among crypto businesses in Malta.

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