ESMA’s October 8 opinion says authorised EU crypto-asset service providers should stop offering clients services involving asset-referenced or e-money tokens that do not meet MiCA requirements. It covers trading, exchange, custody, transfers, order execution, investment advice and portfolio management, among other services, so removing a trading pair may not be enough if a firm continues other services involving the token.
The opinion sets out supervisory expectations. It does not say every stablecoin is non-compliant or announce enforcement against a named platform.
