> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/eu-level/enforcement/esma/esma.md).

# Overview

|                   |                |
| ----------------- | -------------- |
| **Authority**     | ESMA           |
| **Jurisdiction**  | European Union |
| **Snapshot date** | 2026-06-24     |

### Published Actions

| Subject                                                                                                                           | Date        | Type        | Amount | Obligation area                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          | Summary                                                                                                                                                                                                                                                                          | Source                                                                                                                                                              |
| --------------------------------------------------------------------------------------------------------------------------------- | ----------- | ----------- | ------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| [MFSA / Malta CASP authorisation file](/eu-level/enforcement/esma/esma-malta-casp-authorisation-peer-review-2025.md)              | 10 Jul 2025 | Peer review | n/a    | <p>CASP authorisation; governance; conflicts of interest; ICT/custody; AML/CFT; DeFi/Web3 exposure<br><a href="https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/money-laundering.md">money laundering</a>; <a href="https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/terrorist-financing.md">terrorist financing</a>; <a href="/pages/NBDFLWbUi64s4ZHQrtx3">Article 59 MiCA</a>; <a href="/pages/8lT4llxhEP7BM3QupMp9">Article 62 MiCA</a>; <a href="/pages/6SZpsLKLnGxyb93Lt5nI">Article 68 MiCA</a></p>                                                                  | Fast-track peer review found the MFSA partially meeting expectations on a CASP authorisation process and cited unresolved material issues, including prior and pending enforcement history, business-plan growth, conflicts, governance, ICT/custody/Web3, and AML/CFT controls. | [Source](https://www.esma.europa.eu/sites/default/files/2025-07/ESMA42-2004696504-8164_Fast-track_peer_review_on_a_CASP_authorisation_and_supervision_in_Malta.pdf) |
| [Unauthorised CASPs and onboarding authorised CASPs](/eu-level/enforcement/esma/esma-mica-transitional-periods-statement-2026.md) | 17 Apr 2026 | Statement   | n/a    | <p>Transitional periods; unauthorised activity; wind-down planning; AML/CFT/KYC client migration<br><a href="https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/money-laundering.md">money laundering</a>; <a href="https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/terrorist-financing.md">terrorist financing</a>; <a href="/pages/NBDFLWbUi64s4ZHQrtx3">Article 59 MiCA</a>; <a href="/pages/8lT4llxhEP7BM3QupMp9">Article 62 MiCA</a></p>                                                                                                                               | Statement on the end of MiCA transitional periods: 1 Jul 2026 is the EU-wide deadline with no grace period, unauthorised CASPs need immediately executable wind-down plans, and authorised CASPs taking migrated clients must run fresh AML/CFT/KYC checks.                      | [Source](https://www.esma.europa.eu/sites/default/files/2026-04/ESMA75-113276571-1679_Statement_on_the_end_of_transitional_periods_under_MiCA.pdf)                  |
| [Third-country firms and CASPs](/eu-level/enforcement/esma/esma-reverse-solicitation-guidelines-2025.md)                          | 26 Feb 2025 | Guideline   | n/a    | <p>Reverse solicitation; unauthorised activity; perimeter enforcement; online and social-media marketing<br><a href="/pages/NBDFLWbUi64s4ZHQrtx3">Article 59 MiCA</a>; <a href="/pages/8lT4llxhEP7BM3QupMp9">Article 62 MiCA</a></p>                                                                                                                                                                                                                                                                                                                                                                                     | Guidelines read the reverse-solicitation exemption narrowly, treat broad EU-facing marketing and promotion as solicitation, require records proving exclusive client initiative, and expect NCAs to monitor online and social-media activity for EU indicators.                  | [Source](https://www.esma.europa.eu/sites/default/files/2025-02/ESMA35-1872330276-2030_Guidelines_on_reverse_solicitation_under_MiCA.pdf)                           |
| [National competent authorities](/eu-level/enforcement/esma/esma-casp-authorisation-supervisory-briefing-2025.md)                 | 31 Jan 2025 | Statement   | n/a    | <p>CASP authorisation; ML/TF risk; governance; outsourcing; fit-and-proper; business plan; notifications<br><a href="https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/money-laundering.md">money laundering</a>; <a href="https://github.com/jakesenfti/micawtf/blob/main/spaces/definitions/tofr/terrorist-financing.md">terrorist financing</a>; <a href="/pages/NBDFLWbUi64s4ZHQrtx3">Article 59 MiCA</a>; <a href="/pages/8lT4llxhEP7BM3QupMp9">Article 62 MiCA</a>; <a href="/pages/6SZpsLKLnGxyb93Lt5nI">Article 68 MiCA</a>; <a href="/pages/e8v6mIPZk80vKYzLHedI">Article 83 MiCA</a></p> | Supervisory briefing on CASP authorisation: no cursory low-risk assessments, generally high ML/TF risks, and higher scrutiny for large CASPs, complex groups, governance, outsourcing, fit-and-proper, business-plan realism, and notifications.                                 | [Source](https://www.esma.europa.eu/sites/default/files/2025-01/ESMA75-453128700-1263_Supervisory_Briefing_on_Authorisation_of_CASPs.pdf)                           |

* [MFSA / Malta CASP authorisation file - Peer review](/eu-level/enforcement/esma/esma-malta-casp-authorisation-peer-review-2025.md) — 10 Jul 2025
* [National competent authorities - Statement](/eu-level/enforcement/esma/esma-casp-authorisation-supervisory-briefing-2025.md) — 31 Jan 2025
* [Third-country firms and CASPs - Guideline](/eu-level/enforcement/esma/esma-reverse-solicitation-guidelines-2025.md) — 26 Feb 2025
* [Unauthorised CASPs and onboarding authorised CASPs - Statement](/eu-level/enforcement/esma/esma-mica-transitional-periods-statement-2026.md) — 17 Apr 2026


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