According to CoinMeta, the European Securities and Markets Authority (ESMA) has issued new guidelines requiring EU cryptocurrency platforms to stop offering stablecoins that do not comply with market regulations for crypto assets to customers within three months, such as Tether (USDT). The guidelines do not specifically mention any tokens, but identify USDT as the largest stablecoin that is not authorized by ESMA. The stablecoin regulations will come into effect in June 2024, requiring dollars and euros-pegged tokens offered to EU users to meet authorization, reserve, redemption, and disclosure requirements. ESMA states that stablecoins that do not meet these requirements should not be offered through authorized platforms, and national regulatory authorities are required to resolve related assets held by customers within three months after the issuance of the guidelines.