Coin World News: The European Securities and Markets Authority (ESMA) has launched a supervisory review of crypto custodians authorized under MiCA, shifting the focus from licensing to how companies handle operational risk. ESMA said regulators have begun coordinated supervisory actions (CSA) targeting some authorized crypto-asset service providers (CASPs). The review will focus on custody services, assessing whether firms have effective operational resilience measures, rather than simply relying on regulatory approvals. ESMA noted that regulators will evaluate digital operational resilience, including key areas such as private keys and storage management, transaction controls, incident response procedures, and reliance on third-party technology providers. This review is being conducted after the MiCA transition period ends, marking the EU’s first coordinated supervisory action under its crypto rules.