„Blockchain Island“ konfrontiert die EU wegen der Krypto-Regulierung

*From Bloomberg News reporter Laura Noonan:*

Europe’s financial supervision battles are usually fought diplomatically. A tersely worded statement here, a veiled signal there. But on the tiny island of Malta — home to golden visas, legalized cannabis and a massive gambling industry — the rules of engagement are different.

For months now, the EU’s smallest member state has been openly railing against plans to centralize crypto supervision under the Paris-based European Securities and Markets Authority, or ESMA. Should Europe’s council of leaders and parliament back the proposal, a process supporters are hoping to advance this summer, Malta would have to cede direct oversight of big industry names like [Crypto.com](http://Crypto.com), Gemini and Bitpanda.

The EU says it’s centralizing the supervision of crypto and other parts of the financial markets to make investing safer and encourage people to redirect some €11 trillion in bank deposits into more growth-friendly areas like stocks and bonds.

Malta, however, sees the initiative as a politically motivated assault, inspired by jealousy over the tiny island’s success in attracting prominent crypto firms.