According to Foresight News, the European Securities and Markets Authority (ESMA), the regulator responsible for regulating EU financial markets, has issued a new opinion highlighting the huge risks posed by global cryptocurrency companies that seek partial authorization under the Crypto Asset Market (MiCA) Regulation and conduct significant business overseas. ESMA's warning focuses on the complex organizational structure of many global cryptocurrency companies, which allegedly use EU-authorized brokers to send orders to execution venues outside the EU, usually offshore jurisdictions.