Finance
Malta's financial regulator opposes push to centralise EU crypto supervision
Published by Global Banking & Finance Review®
Posted on September 16, 2025
2 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 16, 2025
2 min readLast updated: January 21, 2026
Malta's financial regulator rejects EU's push for centralized crypto supervision, advocating for efficiency and opposing added bureaucracy.
By Elizabeth Howcroft
PARIS (Reuters) -Malta's financial watchdog is opposed to a push by other countries to give the European Union's securities regulator more powers to supervise crypto companies, a spokesperson said on Tuesday.
On Monday, France, Italy and Austria called for the Paris-based European Securities and Markets Authority (ESMA) to take over supervision of major crypto companies, citing concerns that different countries are applying the EU's new crypto rules differently.
The Malta Financial Services Authority (MFSA), whose crypto licence-granting process came under scrutiny earlier this year, said that it supported ESMA's work to create "supervisory convergence" between regulators on crypto, but it didn't back centralisation.
"We believe that centralisation at this stage would only introduce an additional layer of bureaucracy, which could hinder efficiency during a period when the EU is actively striving to enhance its competitiveness," a spokesperson for the MFSA said in emailed comments.
France, Italy and Austria did not give examples of where regulators had interpreted the rules differently. Financial watchdogs across Europe are divided on whether to give more powers to ESMA.
France's regulator told Reuters on Monday that it would not rule out challenging crypto licences granted by other EU member states.
France has long been pushing for ESMA to be given greater powers. ESMA head Verena Ross has said she would welcome the move, but it faces resistance from some EU members.
(Reporting by Elizabeth Howcroft; Editing by Tommy Reggiori Wilkes and Susan Fenton)
Malta's financial regulator opposes the push to centralize EU crypto supervision under the European Securities and Markets Authority, citing concerns over added bureaucracy.
France, Italy, and Austria are calling for the European Securities and Markets Authority to take over supervision of major crypto companies.
The Malta Financial Services Authority believes that centralization would introduce an additional layer of bureaucracy that could hinder efficiency.
Regulators across Europe are divided on whether to grant more powers to the European Securities and Markets Authority, with some expressing support and others opposing.
France's regulator has stated that it may challenge crypto licenses granted by other EU member states, reflecting the ongoing debate over regulatory powers.
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