ESMA Gives EU Crypto Firms Three Months to Halt Noncompliant Stablecoin Services

The European Securities and Markets Authority (ESMA) has given EU-authorized crypto-asset service providers three months to stop offering services tied to stablecoins that do not comply with the Markets in Crypto-Assets Regulation (MiCA), tightening access for European customers.

Providers must take technical, contractual and organizational measures to prevent EU customers from obtaining or increasing exposure to the affected stablecoins. The requirement covers trading platforms, exchange services, order execution, custody, transfers, investment advice and portfolio management.

ESMA set Jan. 8, 2027, as the deadline for providers to address existing exposure. The regulator may allow limited temporary services, including liquidation, conversion, withdrawals, transfers and custody, to help customers exit their positions under close supervision.

The update extends guidance issued in January 2025 and gives providers a defined transition period to bring stablecoin-related services into line with MiCA.