Core Viewpoint - The article discusses the increasing regulatory divergence within the EU regarding cryptocurrency approvals, highlighting concerns over the speed and strictness of approvals in smaller member states like Malta [1] Group 1: Regulatory Framework - The EU's Markets in Crypto-Assets Regulation (MiCA) allows member states to issue licenses for cryptocurrency companies to operate across 27 countries [1] - Some countries are worried about the rapid approval processes, particularly Malta, which has quickly approved licenses for major platforms like OKX and Crypto.com [1] Group 2: Concerns from Regulatory Bodies - The French Financial Markets Authority (AMF) has warned that the lack of direct regulatory power for the European Securities and Markets Authority (ESMA) could lead to "regulatory race to the bottom" [1] - An official noted that the fast approval processes in smaller countries like Malta are under scrutiny by ESMA, with a report on the matter forthcoming [1] Group 3: Malta's Position - The Malta Financial Services Authority claims that its quick approval process is due to years of experience and strict anti-money laundering standards [1]