Summary
The European Securities and Markets Authority (ESMA) has urged national authorities within the EU to ensure compliance with stablecoin regulations. Member states are required to have exchanges stop trading non-compliant stablecoins by the end of the first quarter of 2025.
Key Points
- ESMA has stressed that exchanges must stop trading non-compliant stablecoins, ensuring they align with EU laws.
- The compliance deadline affects popular stablecoins like Tether’s USDT regarding trading with EU clients.
- The majority of member states must ensure cryptocurrency service providers comply with the rules set forth by ESMA.
Related Actions
- Tether announced its decision to discontinue its euro stablecoin due to compliance issues.
- Circle managed to acquire an e-money license, showcasing movements among stablecoin issuers to meet EU regulations.
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