The European Securities and Markets Authority (ESMA) has issued a directive requiring crypto platforms operating in the European Union to remove non-MiCA compliant stablecoins, such as USDT, within a three-month period.
The regulation, which aligns with the Markets in Crypto-Assets (MiCA) framework, aims to ensure that all stablecoins offered within the EU meet stringent regulatory standards. This move is part of a broader effort to bring stability and oversight to the crypto market in the region.
ESMA's directive highlights the importance of compliance with MiCA, which was designed to provide a comprehensive regulatory framework for crypto assets. Platforms that fail to comply with the new requirements risk facing penalties or being barred from operating within the EU market.