ESMA Tells EU Crypto Firms to Stop Serving Noncompliant Stablecoins

The European Securities and Markets Authority (ESMA) has told crypto-asset service providers authorized under the Markets in Crypto-Assets Regulation (MiCA) to stop offering services involving stablecoins that do not comply with the EU framework. The measure applies to MiCA-authorized crypto-asset service providers operating in the EU. The measure applies to noncompliant asset-referenced tokens (ARTs) and e-money tokens (EMTs), regulatory categories that cover stablecoins tied to reference assets or official currencies. ESMA's action sets supervisory expectations for how MiCA-authorized firms handle stablecoins that fall outside the regulation.

Also reported by Coinfomania.

Source: TokenPost