ESMA has instructed national regulators across the EU to require crypto firms to wind down exposure to stablecoins that do not comply with MiCA within three months. Under the remediation framework, the final cutoff date is Jan. 8. The move could effectively shut off EU liquidity for noncompliant tokens, aimed at limiting regulatory arbitrage and ensuring MiCA-compliant issuers are not disadvantaged.

Greece is preparing to introduce its first dedicated tax framework for digital assets. The Ministry of Economy and Finance has published a draft bill that would levy a flat 10% capital gains tax on all cryptocurrencies, including $BTC, $XRP and $ETH. The proposed rate is lower than the 15% discussed earlier in initial talks. The draft also includes a de minimis threshold, exempting the first €500 of annual capital gains. The legislation is scheduled to be formally presented to the Greek parliament in November 2026. Under the proposal, independent solo miners would be exempt from tax liability, while corporate mining firms would be taxed under standard corporate balance-sheet rules.

Greece is considering a 10% capital gains tax on cryptocurrency, a rate lower than the 15% level discussed in June.

Europe's securities markets watchdog has put a firm date on the phase-out of stablecoins that fall outside the EU's Markets in Crypto-Assets (MiCA) regime. In an updated position published this week, the European Securities and Markets Authority (ESMA) instructed national supervisors to require MiCA-authorized crypto-asset service providers (CASPs) to stop offering services to EU clients involving non-MiCA-compliant asset-referenced tokens and e-money tokens. ESMA said the process should start immediately, with any remaining exposures addressed no later than Jan. 8, 2027. The aim is to limit EU users' ability to access unauthorized stablecoins as MiCA implementation continues. Key points - MiCA-authorized CASPs should cease providing services connected to non-MiCA-compliant stablecoins for EU clients. - National regulators are expected to enforce a deadline of Jan. 8, 2027 to deal with remaining exposures. - ESMA's scope covers trading platform services, exchange services, custody and safekeeping, transfers, order execution, investment advice, and portfolio management. - Limited, exit-only activity may be permitted on a temporary basis—including liquidation or conversion—under close supervision. - Firms are expected to deploy technical, contractual, and organizational measures to prevent clients from increasing exposure to unauthorized tokens. Broader service restrictions, not just trading ESMA's opinion targets stablecoins that do not meet MiCA requirements, specifically certain asset-referenced tokens and e-money tokens. The regulator's wording makes clear that the expectation extends across the regulated service stack, not only market-facing venues. Operationally, ESMA said MiCA-authorized firms should not continue providing these services to EU clients, reinforcing the view that restricting listings or trading alone is not sufficient if other services can sustain or expand exposure. What firms should do The guidance applies to a wide set of MiCA-regulated activities, including: - trading platform services - exchange services - order execution - custody and safekeeping - transfers - investment advice - portfolio management ESMA also set expectations for controls that go beyond blocking new onboarding paths. Firms should implement safeguards—technical, contractual, and organizational—to ensure EU clients cannot acquire additional nonauthorized stablecoins or increase existing exposure. A narrow carve-out for supervised exits ESMA acknowledged that certain limited services may be allowed temporarily to help clients reduce or exit existing positions. Examples include liquidation, conversion, withdrawals, transfers, and safekeeping. ESMA emphasized these activities should remain temporary and closely supervised, with the preferred outcome being an orderly exit rather than continued access. Building on earlier guidance The updated stance follows ESMA's earlier guidance from January 2025, which called for restrictions on trading and exchange services involving noncompliant stablecoins. The new opinion expands the practical reach by applying the "stop providing services" expectation across a broader set of MiCA-covered activities. Why the Jan. 8, 2027 date matters By setting a hard deadline of Jan. 8, 2027, ESMA signaled that regulators want a structured transition away from non-MiCA stablecoins. For investors and service users, the key issue is operational: existing holdings may need planned conversion, liquidation, or withdrawal routes rather than last-minute changes when services are paused. ESMA's focus on controls to prevent additional exposure also points to more active "access risk" management by firms. That may affect token listings, onboarding rules, transaction routing, custody policies, and portfolio tools—particularly where holdings can persist via portfolio management or safekeeping. National authorities are expected to scrutinize whether any "temporary exit" measures remain limited in scope and duration, and the emphasis on technical systems, contractual terms, and internal organizational processes raises the bar for documentation and governance. ESMA's guidance, as described in the opinion: MiCA-authorized CASPs should cease providing services related to non-MiCA-compliant stablecoins, while exit-related activities may be allowed temporarily under close supervision; remaining exposures should be addressed no later than Jan. 8, 2027. This article was originally published as ESMA Sets 3Month Deadline for Crypto Firms to Exit Noncompliant Stablecoins on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The European Securities and Markets Authority (ESMA) said EU-authorized crypto-asset service providers operating under the Markets in Crypto-Assets Regulation (MiCA) must stop offering services tied to stablecoins that do not meet MiCA requirements to EU clients by Oct. 8 (UTC+8). Firms must also address any existing exposures by Jan. 8, 2027, according to ME News. ESMA's guidance applies across a broad range of activities, including trading platforms, exchange services, order execution, custody, transfers, investment advice, and portfolio management. The watchdog said firms should put technical, contractual, and organizational controls in place to prevent EU clients from accessing these unauthorized stablecoins or increasing their exposure. Regulators may allow narrowly scoped, temporary services to help clients exit existing positions, such as liquidation, conversion, withdrawal, transfer, and custody, provided the activities are closely supervised and subject to strict oversight. The announcement builds on ESMA's earlier guidance issued in January 2025. (Source: ODAILY)

EU-authorized crypto-asset service providers operating under the Markets in Crypto-Assets Regulation (MiCA) must stop providing services to EU clients involving stablecoins that do not comply with MiCA, the European Securities and Markets Authority (ESMA) said. ESMA's guidance applies across core activities including trading platforms, exchange services, order execution, custody, transfers, investment advice and portfolio management. Firms are required to put technical, contractual and organizational controls in place to prevent EU clients from accessing these unauthorized stablecoins or increasing their exposure. ESMA also said firms must address any existing exposures by no later than January 8, 2027. Regulators may allow narrowly defined, time-limited services—such as clearing, conversion, withdrawal, transfer and custody—to enable clients to exit current positions, subject to strict supervision. The update builds on ESMA guidance issued in January 2025. (Cointelegraph)

European Securities and Markets Authority (ESMA) has issued new guidance instructing EU-based crypto firms to stop offering services involving stablecoins that do not meet the Markets in Crypto-Assets Regulation (MiCA) requirements, allowing a three-month period to wind down existing exposure. In a statement on Thursday, ESMA said national regulators should ensure affected firms address any remaining exposure to non-compliant stablecoins as quickly as possible, and no later than January 8, 2027. The guidance covers MiCA-regulated crypto services, including trading platforms, exchange services, order execution, custody, transfers, investment advice and portfolio management. ESMA said firms must put in place technical, contractual and organizational safeguards to prevent EU clients from accessing unauthorized stablecoins or increasing their exposure. Supervisors may allow narrowly defined, temporary services to help clients exit existing positions—such as liquidation, exchange, withdrawal, transfer and custody—provided these activities are closely monitored. The update builds on ESMA guidance released in January 2025, which first called for restrictions on trading and exchange services involving non-compliant stablecoins.

Federal Reserve Governor Christopher Waller said additional interest-rate increases may be needed if incoming data continue to align with expectations, arguing that further tightening could bring inflation back to the Fed's 2% goal sooner. Waller said any hikes would not need to come at consecutive meetings, but should be delivered within a reasonable timeframe. He noted the Federal Open Market Committee (FOMC) raised the policy rate by 25 basis points to a 3.75%–4% range in September after nine months of no changes, and said the decision was supported by several months of evidence rather than a single August consumer price index report. Looking back, Waller said the FOMC cut rates by a total 75 basis points across three straight meetings from September through December 2025. He described those reductions as insurance against a slowdown as unemployment rose and job growth was very weak. On inflation, Waller said it was fairly close to 2% after accounting for tariff effects that research suggests were feeding through into inflation measures. He added that other indicators supported an employment-focused assessment of risks after the government shutdown that began Oct. 1 disrupted official data releases. Waller said the labor market appeared to stabilize in the first half of this year, while the Middle East conflict pushed energy prices sharply higher and partly stalled progress on inflation. He said he supported holding rates steady through spring and summer, expecting the conflict to ease and the oil spike to prove temporary. He cited cooling inflation in the Fed's preferred gauge: monthly core personal consumption expenditures (PCE) inflation, excluding food and energy, slowed to 0.1% in June. July core PCE was first estimated at 0.2% and later revised down to 0.1%. Waller also pointed to risks that could keep inflation elevated. He said experts have warned that low oil inventories and damaged infrastructure could keep oil prices high through 2027 as prospects for a quick resolution to the conflict faded. He said evidence is mounting that the artificial-intelligence buildout has materially lifted high-tech consumer prices as expectations for the scale of that investment expand. He added that ongoing trade disputes raise the risk of new tariffs that could reignite inflation pressures. Waller said the first August inflation reading, released shortly before the September meeting, confirmed inflation remained too high and had not improved enough. In his view, the policy stance maintained from December 2025 through September of this year would not return inflation to 2% on a timely basis. He said stronger economic activity in the second half of this year has reduced his concern that tighter policy would trigger a damaging slowdown. At the same time, he warned that inflation running above target for nearly five and a half years risks lifting inflation expectations among consumers, investors and price-setting businesses. Waller said data released last week left the economy broadly in the same place as at the September FOMC meeting. September employment data, he said, still pointed to a solid and stable labor market despite a slower headline pace of job creation. Unemployment remained relatively low and close to policymakers' median longer-run projection, while payroll gains were consistent with estimates needed to hold unemployment steady. He said August data, reflecting revisions to the government's methodology, showed monthly core PCE inflation of 0.25%. The 12-month core PCE inflation rate was 3%. He added that 12-month core inflation has hovered roughly between 2.5% and 3.0% since spring 2024, showing insufficient progress toward the target, and said monetary policy would remain focused on inflation at least in the near term. On communication, Waller laid out a hypothetical path involving three 25-basis-point hikes, totaling 75 basis points. He argued that saying nothing about an expected path could increase volatility, with markets potentially pricing anywhere from zero to five hikes and producing either too little or too much restraint. He said strong forward guidance pointing to 25-basis-point hikes at every other meeting would likely lead markets to price 75 basis points over five meetings. Still, he cautioned that locking in such a course could backfire by ignoring data that could warrant faster or slower tightening, or larger or smaller moves. Waller said a better approach would be to signal that a roughly 75-basis-point increase over an illustrative six-month period is likely, while keeping the pace and size of hikes dependent on incoming data. He said the intent is to communicate direction without fixing an endpoint beyond the goals of price stability and maximum employment. He added that Fed communications and the quarterly Summary of Economic Projections play this signaling role. In September's projections, he said, 16 of the 18 FOMC participants who submitted rate forecasts expected at least one additional hike across the year's two remaining meetings, and four of those 16 expected two hikes. Eight participants projected that rates at the end of 2027 would be 50 basis points higher than current levels, though Waller said those forecasts could also reflect hikes early in the year followed by cuts later. Waller said markets have read policymakers' projections and speeches as pointing to a likely 50-basis-point increase in coming months. He said federal funds futures pricing as of yesterday implied an 85% chance of at least one hike by the end of the December meeting and close to a 20% chance of two hikes by then. By the March 2027 meeting, he said markets were pricing nearly an 80% chance of at least two hikes and a 33% chance of three or more.

Odaily Planet Daily reports that QCP said in a market thematic note dated October 8 that U.S.-Iran talks over transit arrangements through the Strait of Hormuz have stalled. QCP noted the U.S. has stepped up pressure by withdrawing the Iranian delegation and adding new sanctions, while Qatar's mediation channel remains available. Traffic through the strait has fallen sharply, with just three vessels currently transiting versus a normal average of 26. QCP added that the U.S. Strategic Petroleum Reserve is down 28% since May. Crude shipping rates from West Africa to China have jumped to $27.22 per barrel, up 319% from the year-to-date average of $7.37 per barrel. Refined product shipping volumes are still about 33% below normal. QCP said tighter tanker availability could keep forward delivery costs elevated. In crypto, QCP highlighted that Anthropic's IPO has been pushed back to mid-November, with market expectations for valuation around $2 trillion. Strategy has slowed Bitcoin buying and shifted focus to STRC buybacks. Crypto ETF inflows have eased, and progress on the U.S. Clarity Act has stalled.