EU Regulator Orders Crypto Firms to Drop Non-MiCA Stablecoins
- —ESMA requires firms to wind down non-compliant stablecoin positions within 3 months
- —Outer deadline is January 8, 2027; regulators may set earlier dates
- —Measures cover custody, transfers, advisory and portfolio management
- —USDT, with a $184.2 billion market cap, is the largest token affected
Why it matters: The restrictions target USDT, the largest stablecoin with roughly 60% market share, and could shift EU liquidity toward compliant assets such as USDC.
Source: NFT Evening