The European Securities and Markets Authority (ESMA) has issued a warning to crypto-asset service providers operating under the Markets in Crypto-Assets Regulation (MiCA). The authority is urging these providers to cease offering services related to stablecoins that do not comply with the regulatory framework.
The opinion extends to both asset-referenced tokens and e-money tokens, covering a range of services such as trading, exchange, order execution, investment advice, custody, transfers, and portfolio management. ESMA’s directive aims to ensure that all stablecoin-related activities within the EU adhere to MiCA’s requirements.
This move underscores ESMA’s commitment to maintaining regulatory compliance within the crypto sector. The authority is taking proactive steps to prevent the provision of unauthorized stablecoin services, emphasizing the importance of adhering to established guidelines.