Original sourceBytewitAdditional: Times News Network
Summary
The European Securities and Markets Authority (ESMA) initiated a common supervisory action on July 9, subjecting MiCA-licensed CASPs to operational resilience stress tests evaluating key management, storage, transaction controls, and incident response. This marks a shift from licensing to substanti…
Key points
- EU crypto custodians must immediately review internal processes to meet on-site inspection requirements and avoid penalties for inadequate resilience.
- MiCA regulation enters deep waters, where custodians' operational resilience directly impacts their ability to continue operating in the EU.
- Crypto custodians must strengthen security and incident response; institutional clients will increasingly choose stress-tested providers, accelerating industry consolidation.
Editorial note
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