Custody and transfer services for MiCa non-compliant stablecoins are permissible under MiCA because they do not constitute a public offering or a request for admission to trading

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Custody and transfer services for MiCa non-compliant stablecoins are permissible under MiCA because they do not constitute a public offering or a request for admission to trading

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“Under MiCA, custody and transfer services do not in themselves constitute an ‘offering to the public’ or ‘seeking admission to trading’ of non-compliant asset-reference tokens or e-money tokens,” a spokesperson for the ESMA told Cointelegraph on March 4. “These services are therefore not explicitly prohibited under Titles III and IV of MiCA,” the representative added

ESMA, which supervises compliance with the MiCA regulation in Europe, stated that providing custody and transfer services for non-compliant stablecoins does not violate the new European laws on cryptocurrencies. These services do not constitute a public offering or a request for admission to trading of non-compliant reference tokens or electronic money tokens.

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