MiCA licensing only the beginning as crypto custodians face scrutiny
CoinTelegraph·
60-second summary
Crypto custodians are facing heightened scrutiny as the European Securities and Markets Authority (ESMA) reviews their ability to meet MiCA security and resilience standards, a crucial step in obtaining EU licenses. Over 20 firms have already applied for licenses, with many more expected to follow, setting a high bar for security and compliance.
A MiCA license allows crypto firms to operate in the EU, but the ESMA’s review will test whether custodians can meet the required security and resilience standards.