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FollowingThe European Securities and Markets Authority (ESMA) urges EU crypto companies to stop providing services involving non-compliant stablecoins
The European Securities and Markets Authority (ESMA) has urged crypto asset companies in the EU to immediately stop providing services involving stablecoins that do not comply with the Cryptocurrency Markets Regulation (MiCA) framework and set a three-month deadline to resolve existing related exposure issues.
On Thursday, ESMA said that national regulators should require relevant companies to process remaining exposure to non-compliant stablecoins as soon as possible and no later than January 8, 2027. ESMA wrote in the statement: "Crypto-asset service providers (CASPs) authorized under MiCA should cease providing services related to non-compliant stablecoins to EU customers."
This guideline covers the scope of crypto services regulated by MiCA, including trading platforms, exchange services, order execution, custody, transfers, investment advice, and portfolio management. ESMA pointed out that crypto companies should implement technical, contractual and organization-level controls to prevent EU customers from gaining or increasing exposure to unapproved stablecoins.
Regulators may allow limited services to be provided to help customers exit existing positions, including clearing, conversion, withdrawal, transfer and safe custody. However, ESMA emphasized that such activities must be temporary and subject to close supervision.
This update is a further expansion of guidelines issued by ESMA in January 2025, when the agency called for restrictions on trading and exchange services involving non-compliant stablecoins.
