EU's MiCA transition expires in 2026; about 75% of crypto platforms could lose authorization to operate

ME News reported on June 15 (UTC+8) that the EU's Markets in Crypto-Assets (MiCA) transitional grace period will end on July 1, 2026. Data as of May 2026 show just 194 crypto firms across the bloc have secured official licenses, compared with more than 3,000 crypto businesses registered in 2024. Around 75% of existing platforms are expected to become ineligible to operate once the grace period expires. Platforms without a MiCA license must wind down in an orderly manner, migrate users to licensed providers, or fully exit the European market before the deadline. France's financial regulator AMF said operating without a license could carry penalties of up to two years in prison and a €30,000 fine. Users on platforms that fail to obtain MiCA authorization may face limits such as being unable to add funds or being required to withdraw their assets. (Source: ODAILY)