ESMA Requires Crypto Service Providers to Halt Non-MiCA-Compliant Stablecoin Services, with 3-Month Phase-Out

PANews, October 8 - According to Cointelegraph, the European Securities and Markets Authority (ESMA) has issued an opinion requiring EU crypto asset service providers (CASPs) to cease offering services involving non-MiCA-compliant stablecoins to EU clients, covering trading, exchange, custody, transfers, and investment advice, and to block clients from buying or increasing holdings. Existing exposures must be cleared within 3 months, no later than January 8, 2027, during which only limited exit services such as selling, exchanging, and withdrawing may be provided.