ESMA Gives EU Crypto Firms Three Months to Wind Down Non-MiCA Stablecoin Services

On 8 October, the European Securities and Markets Authority said MiCA-authorised crypto-asset service providers should stop providing EU clients with services involving asset-referenced tokens and e-money tokens that do not comply with the regulation. The supervisory position covers trading, exchange, transfers, custody and portfolio management, beyond the listing of affected tokens. ESMA instructed national competent authorities to require firms to remediate remaining pre-existing exposure as soon as possible and within three months of the opinion's publication, placing the effective deadline on 8 January 2027, according to ESMA's announcement .