[Malta Financial Regulator Opposes EU Cryptocurrency Regulation Centralization Proposal] A spokesperson for the Malta Financial Services Authority (MFSA) stated opposition to the proposal of granting the European Securities and Markets Authority (ESMA) more power to centrally regulate cryptocurrency companies. While the MFSA supports achieving 'regulatory convergence' in cryptocurrency oversight, it believes centralization could increase bureaucratic burdens and reduce overall efficiency within the EU, particularly in the context of current efforts to enhance competitiveness. Previously, France, Italy, and Austria proposed that the Paris-based ESMA take responsibility for regulating large cryptocurrency companies to address inconsistencies among member states in implementing the EU's new cryptocurrency rules. Earlier this year, MFSA's cryptocurrency licensing process came under scrutiny.