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NEWS: ESMA, AMLA urge crackdown on unauthorised stablecoins

FILE PHOTO: A representation of cryptocurrency Tether is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

By CARLO BOFFA, EU Correspondent EU regulators have called on authorities to close regulatory gaps and use enforcement measures to stop unauthorised stablecoins circulating in the bloc. Issuers need a licence under the EU’s Markets in Crypto-Assets (MiCA) regulation to market stablecoins in the bloc, but some crypto exchanges have used regulatory loopholes to keep…

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