MiCA licensing only the beginning as crypto custodians face scrutiny
EU regulators launched a supervisory review of crypto custodians under MiCA, shifting focus from licensing to operational resilience. The ESMA will examine custody providers' security standards, asset segregation, and incident response capabilities. Industry executives say custodians must now prove—not merely claim—robust controls as institutional adoption accelerates. The review could reshape EU crypto supervision frameworks and influence MiCA policy discussions.
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