@dady-padlinton
The European financial Regulator said that service providers should stop any activity that promotes the purchase and circulation of unlicensed stablecoins linked to assets (ART) and fiat currencies (EMT) - including the exchange and execution of orders.
The regulator recommended explaining the changes to customers by introducing technical solutions for simplified liquidation or conversion of unlicensed stablecoins into assets that comply with MiCA rules.
Cryptocurrency service providers will be required to retain the ability to sell or convert such assets until March 31.
On the territory of the European Union, the Digital Operational Resilience Act (DORA) came into force, which expands the scope of MiCA rules and requires European cryptocurrency companies to strengthen cybersecurity and risk management.
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