Malta financial regulators oppose pushing centralized EU cryptocurrency regulation

Malta financial regulators oppose France, Italy and Austria's push to give EU securities regulator ESMA more centralized cryptocurrency regulation powers. The Malta Financial Services Authority supports ESMA's work on regulatory convergence, but warns that centralization may exacerbate bureaucracy and undermine the EU's competitiveness. European regulators still have differences on expanding ESMA's powers, and France does not rule out raising questions about cryptocurrency licenses issued by other EU countries.