Email OTP Verification coming to Teams Meetings

Microsoft introducing a new security feature in Teams that will enable enforcements of Email OTP verification
for meetings. This new policy, "Anonymous users can join a meeting after verifying," will be available in the Teams Admin Center for all organizations.

This feature is available only for meetings created by organizers with a Teams Premium license.

The feature is in public preview, but should be rolling out in GA any time soon. The update will roll out automatically.
Admins should consider to update the new meeting policy setting from “By e-mail code” to “No” by mid-February if they wish to continue blocking all unverified users (If "No" is the current setting). The policy is described in this article.