Blockchain.com has secured approval under the European Union’s Markets in Crypto-Assets Regulation (MiCA) by establishing a presence in Malta. The authorisation, granted by the Malta Financial Services Authority (MFSA), allows the company to provide custody and wallet services to clients in all 30 European Economic Area (EEA) member states. The licence also positions Blockchain.com to expand its institutional offering, which includes treasury management and other business-focused solutions. Representatives from the firm noted that the MiCA framework provides a unified regulatory structure, replacing the fragmented oversight that previously characterised the European crypto landscape. Malta has taken an assertive approach to MiCA implementation, becoming one of the first EU jurisdictions to issue licences under the new regime. However, its framework has not been without controversy.

In July, the European Securities and Markets Authority (ESMA) questioned aspects of the MFSA’s authorisation process. The Maltese regulator later clarified that the issues raised had no impact on the validity of its MiCA licencing procedures, reaffirming its commitment to maintaining regulatory integrity while encouraging market development. At the policy level, Malta has also diverged from calls to centralise crypto supervision at the EU level. While countries such as France have advocated for ESMA to take direct oversight of crypto-asset service providers (CASPs), Maltese officials have argued that MiCA remains too new to warrant such structural changes.

In a September statement, the MFSA said it was premature to assess the regulation’s full effects and cautioned against additional supervisory layers that might hinder market competitiveness..