The European Securities and Markets Authority (ESMA) has issued an opinion stating that continued services for non-MiCA compliant stablecoins must be strictly limited to selling, converting, transferring, or withdrawing existing holdings. These transitional services are required to be time-limited in duration. Under the new guidance, all new purchases, promotional activities, and trading of non-compliant stablecoins are prohibited. The restrictions aim to ensure an orderly transition under the Markets in Crypto-Assets regulation while preventing further expansion of non-compliant assets within the EU market.