ESMA urges EU crypto firms to halt non-MiCA-compliant stablecoin services

The European Securities and Markets Authority urged European Union crypto firms to stop offering stablecoin-related services that do not comply with the Markets in Crypto-Assets regulation, Cointelegraph reported. The deadline to unwind existing holdings and related exposures was set at three months. ESMA emphasized that crypto-asset service providers authorized under MiCA must discontinue services tied to non-compliant stablecoins for EU customers.