The European Securities and Markets Authority (ESMA) will conduct assessments of crypto custody providers focusing on their key management practices, incident response capabilities, and dependence on third-party technology providers following the implementation of the Markets in Crypto-Assets (MiCA) regulation, according to CoinTelegraph.
This move aims to enhance the security and operational resilience of crypto custody services within the EU as the regulatory framework under MiCA takes effect. ESMA’s scrutiny will help ensure that providers maintain robust controls to protect digital assets and respond effectively to incidents.
For Japanese investors and market participants, this development signals an increasing trend of regulatory oversight in global crypto markets, which could influence compliance expectations and risk management strategies domestically.