Regulation· ★★★★· bearish·

ESMA Urges EU Regulators to Halt Services for Non-MiCA Stablecoins

  • —ESMA told CASPs not to maintain or expand client access to stablecoins that fail MiCA rules
  • —The restrictions cover trading platforms, exchange, order execution, custody, advice and portfolio management
  • —Existing client positions must be unwound within up to three months of the opinion's publication
  • —Client warnings and risk acknowledgements were deemed insufficient substitutes for MiCA safeguards
Why it matters: EU regulators are tightening pressure on stablecoins outside MiCA, potentially curbing liquidity and access to certain assets for European users.
Source: TokenPost
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