EU Securities Regulator Orders Removal of Unauthorized Stablecoins Within Three Months
(1 hour ago) · 1 source · Summarized by CryptoBipto
The European Securities and Markets Authority (ESMA) has directed crypto platforms operating in the EU to delist stablecoins that have not received proper authorization. Platforms have been given a three-month deadline to comply with the directive. The move is part of the EU's broader enforcement of its Markets in Crypto-Assets (MiCA) regulatory framework.
WHY IT MATTERS
Stablecoins are cryptocurrencies designed to maintain a steady value, usually pegged to a traditional currency like the US dollar or euro. Think of them like digital versions of regular money that people use to trade, save, or move funds within the crypto ecosystem. The EU has created a rulebook called MiCA (Markets in Crypto-Assets) that sets out who is allowed to issue stablecoins and what rules they must follow — similar to how banks need licenses to operate. ESMA, the EU's financial watchdog, is now telling crypto platforms to remove any stablecoins whose issuers have not obtained the required license. For everyday users in the EU, this could mean that some stablecoins they currently use on exchanges may no longer be available unless the issuers get proper approval.
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- coindesk.com
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