EU Regulator ESMA Targets Crypto Custody Risks in Major MiCA Compliance Push
The European Securities and Markets Authority (ESMA) is intensifying its oversight by launching a dedicated review process for crypto custody providers. This Common Supervisory Action (CSA) aims to stress-test the operational resilience of Crypto-Asset Service Providers (CASPs), specifically targeting vulnerabilities in key management and storage protocols.
As the MiCA framework transitions into full implementation, this crackdown highlights the EU's commitment to institutional-grade security. By scrutinizing incident response capabilities and reliance on third-party technology providers, ESMA is setting a high bar for digital operational resilience to protect the broader crypto-asset ecosystem.
"The CSA will assess the maturity of CASPs’ digital operational resilience frameworks in relation to custody activities," ESMA stated. The regulatory review will place heavy emphasis on critical areas such as key and storage management, incident response, and the potential risks associated with reliance on third-party technology providers.
This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.
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