ESMA Reviews Crypto Custody Security Under EU Rules
The post ESMA Reviews Crypto Custody Security Under EU Rules appeared on BitcoinEthereumNews.com. The European Securities and Markets Authority (ESMA), a key EU regulator supporting the implementation of the Markets in Crypto-Assets (MiCA) framework, is launching a dedicated process for reviewing crypto custody providers. ESMA plans to conduct a common supervisory action (CSA) focused on the operational resilience of crypto-asset service providers (CASPs), with a specific emphasis on custody services, according to an official announcement on Wednesday. “The CSA will assess the maturity of CASPs’ digital operational resilience frameworks in relation to custody activities,” ESMA said, adding that the reviews will focus on areas including key and storage management, alongside other operational risks. The move comes shortly after the end of MiCA’s transition phase on July 1, prompting increased attention to how EU authorities will supervise compliance with the new framework, including pote