TechFlow news, January 21 — According to Veronika Rinecker, the European Securities and Markets Authority (ESMA) has ordered crypto-asset service providers (CASPs) to delist stablecoins that do not comply with the Markets in Crypto-Assets Regulation (MiCA). While ESMA did not specify which non-compliant issuers or stablecoins are subject to these restrictions, the move follows European Commission guidance from July 2024, aiming to clarify how MiCA applies to crypto-asset services 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.
MiCA entered into force on June 30, 2024, establishing a regulatory framework for the issuance and trading of asset-referenced tokens (ARTs), or stablecoins, and electronic money tokens (EMTs).
