EU Securities Regulator Wants Crypto Platforms to Wind Down Non-MiCA Stablecoin Services
Photo: Unchained
ESMA’s opinion to national regulators covers every crypto service tied to unauthorized stablecoins and sets a three-month limit for clearing existing exposure. The European Securities and Markets Authority ( ESMA ) issued an opinion dated Oct. 8 saying licensed crypto platforms should stop serving stablecoins that lack authorization under the EU’s MiCA rules. It expects national regulators, the opinion’s main audience, to see that any leftover customer exposure is cleaned up within three months . The opinion covers asset-referenced tokens and e-money tokens, the two MiCA categories that include stablecoins. It names no specific tokens.
Source: Unchained
