EU securities regulator gives crypto platforms 3 months to remove unauthorized stablecoins
ESMA set out a three-month window for licensed crypto platforms to stop supporting stablecoins that do not meet MiCA authorization requirements. The guidance splits responsibilities between platforms, which must halt new activity, and national authorities, which oversee any remaining customer exposure.
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Authorized platforms must block new access to stablecoins that fail to meet MiCA rules.
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National authorities are responsible for overseeing existing customer holdings while the platform restrictions are being applied.
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ESMA issued an opinion dated Oct. 8 telling licensed crypto platforms to stop serving stablecoins that lack authorization under the EU’s MiCA rules.
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The opinion says national regulators should make sure any leftover customer exposure is cleaned up within three months.
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CoinDesk
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Oct 8 15:23
Breaks the event
+18 h 57 m
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context
Oct 9 10:20
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context
Its angle: acknowledgements, professionally, authorization; with quotes
Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 15 days ago | Circle urges MiCA changes as only 3 of top 30 stablecoins comply event | 2 actors in common · 8 news media |
| 24 days ago | Tether Rejected This MiCA Rule. Now the ECB Wants It Gone event | 2 actors in common · 2 news media |
| 9 days ago | Sberbank Gains Approval to Provide Bitcoin Custody Services in Russia event | 1 actors in common · 3 news media |
| 10 days ago | Bitcoin Group SE (ADE) Denied MiCAR Authorisation; Shifts to Partner Model - TradingView event | 1 actors in common · 6 news media |
| 14 days ago | Bitpanda CEO says MiCA boosts retail trust in regulated crypto firms event | 1 actors in common · 4 news media |