ESMA is urging EU crypto asset service providers to delist stablecoins that do not comply with MiCA requirements

2025-01-21 09:41:12

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ChainCatcher news, according to Veronika Rinecker, the European Securities and Markets Authority (ESMA) has ordered crypto asset service providers (CASP) to delist stablecoins that do not comply with the Markets in Crypto-Assets Regulation (MiCA). Although ESMA did not specify which non-compliant issuers or stablecoins should be restricted, this move follows the guidelines from the European Commission in July 2024, aimed at clarifying how MiCA applies to crypto assets involving non-compliant stablecoins.

Prior to this, the European Banking Authority (EBA) had urged stakeholders to assess the MiCA compliance of the tokens they offer and to cease providing services related to non-compliant assets.

It is reported that MiCA will come into effect on June 30, 2024, establishing a regulatory framework for the issuance and trading of asset-referenced tokens (ART) or stablecoins and electronic money tokens (EMT).

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