PANews reported on January 21 that according to Cointelegraph, the European Securities and Markets Authority (ESMA) issued a statement on asset reference tokens (ARTs) or stablecoins on January 17, urging crypto asset service providers (CASPs) to take emergency measures against stablecoins that do not comply with MiCA. While promoting the implementation of these measures, ESMA did not specify which non-compliant issuers or stablecoins should be restricted.

In the statement, ESMA highlighted the role of EU member state regulators, known as national competent authorities (NCAs), in guiding CASPs to bring their services into line with the latest European Commission guidelines. The guidelines make it clear that MiCA prohibits issuers from offering stablecoins that are not authorized and do not comply with MiCA regulations. The guidelines state that "persons other than the issuer may also offer or seek trading listings for electronic money tokens (EMT) or asset-linked tokens (ART) to the public," adding that such offerings are subject to specific conditions. One of these conditions is that the issuer should be authorized in the EU, and another that the person concerned must obtain the written consent of the issuer. According to ESMA, NCAs should ensure that CASPs achieve compliance for non-compliant stablecoins "as soon as possible" and at the latest by the end of the first quarter of 2025.