UPDATE: ESMA sets Jan. 8, 2027 deadline to drop unauthorized stablecoins
CIE News ·
ESMA set a Jan. 8, 2027 deadline for EU crypto platforms to wind down non-compliant stablecoins, limiting activity to selling, converting, withdrawing, or safekeeping.
The European Securities and Markets Authority (ESMA) has set a firm deadline of January 8, 2027, for authorized crypto-asset service providers to end customer exposure to non-compliant stablecoins, according to reports by CoinDesk and Cointelegraph. As previously reported, the regulator mandated that European Union platforms exit tokens that do not comply with the Markets in Crypto-Assets (MiCA) regulation within three months.
Under updated guidance issued to national regulators, the restriction specifically targets non-compliant asset-referenced tokens (ARTs) and e-money tokens (EMTs). National authorities must oversee the wind-down and ensure platforms bar EU users from buying, trading, swapping, or increasing balances of unauthorized assets, CoinDesk reported.
During the three-month transition period, platforms are restricted to offering limited off-ramping services. Regulated firms may only permit customers to sell, convert, withdraw, transfer, or safekeep their existing tokens before the final cutoff, according to ESMA's guidance.