🚨 Crypto News Flash! 🚨

The EU’s markets watchdog, ESMA, is pushing for mandatory external audits of crypto companies’ cyber defenses to boost consumer protection amid rising security breaches. 💻🔒

- ESMA wants stricter cyber protection rules, urging EU lawmakers to mandate third-party audits.

- The European Commission is hesitant, suggesting ESMA's proposals may exceed legislative scope.

- Cybersecurity is critical as hackers stole $1.4B in 2024, with average losses per hack surging by 79.5%.

What do you think about these potential regulations? Share your thoughts in the comments! 💬

Read more: MiCA is live: How new EU regulation will affect the global crypto market