MiCA licence just the start as ESMA prepares strict scrutiny of crypto custodians

A MiCA licence grants crypto firms the right to operate across the EU, but the European Securities and Markets Authority (ESMA) is set to rigorously test whether custodians meet required security and operational resilience standards. Regulators view the licence as a starting point rather than a seal of approval. Crypto custodians face an increasingly demanding compliance environment in Europe.