ESMA Sets 3-Month Exit for Non-MiCA Stablecoins, Pulls Custody Into Scope
🚨 Licensed EU crypto firms must cease services for non-compliant stablecoins by early January 2027, as mandated by ESMA's new opinion.
🔍 Supervisors are tasked with ensuring firms do not allow EU clients to buy or trade these tokens, with a focus on implementing technical controls to block new purchases.
🛑 Custody and transfer of non-compliant tokens are now under scrutiny, and firms must limit exit services to existing holdings without promoting new transactions.
🚨 Licensed EU crypto firms must cease services for non-compliant stablecoins by early January 2027, as mandated by ESMA's new opinion.
🔍 Supervisors are tasked with ensuring firms do not allow EU clients to buy or trade these tokens, with a focus on implementing technical controls to block new purchases.
🛑 Custody and transfer of non-compliant tokens are now under scrutiny, and firms must limit exit services to existing holdings without promoting new transactions.