Odaily Planet Daily News: The European Securities and Markets Authority (ESMA) has issued an opinion on the use of non-EU execution venues by global crypto companies. The European regulator recognizes the risks associated with the complex structures of global crypto companies, as the execution venues of these structures are not within the scope of MiCA. The opinion is part of ESMA and NCAs' broader efforts to ensure the effective application of MiCA and convergent regulatory practices throughout the EU. ESMA's intervention aims to address the risks posed by global crypto companies seeking authorization for some crypto brokerage activities under the MiCA regulations while keeping a significant portion of their organization's internal execution venues outside the scope of EU regulation. The regulator said that the complex structures of global crypto companies may include the participation of EU-authorized brokers that effectively route orders to intra-group execution venues outside the EU, which may lead to reduced consumer protection and create an unfair competitive environment with EU-authorized execution venues. (Finance Feeds)