Non-Compliant Stablecoins Face Three-Month Phaseout Under New ESMA Order
Photo: TheCoinrise
The EU securities regulator has set a three-month deadline for exchanges and custodians to drop stablecoins lacking MiCA authorization. The European Securities and Markets Authority, known as ESMA, has directed crypto firms across the European Union to stop offering services for stablecoins that have not received authorization under MiCA. According to reports, firms have been given a three-month window to wind down these offerings. MiCA, the EU's Markets in Crypto-Assets framework, introduced specific rules for so-called e-money tokens and asset-referenced tokens. Stablecoin issuers seeking to operate legally in the bloc must obtain authorization from a national regulator.
Source: TheCoinrise
