EU ESMA requires cryptocurrency companies to comply with new stablecoin regulations by March 31st

According to Finance Feeds, the European Securities and Markets Authority (ESMA) requires cryptocurrency companies to comply with the EU's new stablecoin rules by March 31st. This regulation is part of a broader framework for the crypto asset market (MiCA), requiring companies to restrict or remove stablecoins that do not meet standards. MiCA's stablecoin regulations will take effect from mid-2024, but ESMA now expects companies to complete the changes before the end of the first quarter. Regulatory authorities have stated that prior to this, companies can keep non compliant stablecoins for sale, but cannot purchase them. It warns that delays may disrupt the market.