Spain’s regulator confirms no extension for MiCA licensing, forcing unregistered firms like Binance to halt EU operations temporarily.
Spain’s securities regulator ruled out extending the EU’s July 1 deadline for crypto firms to register under the Markets in Crypto-Assets (MiCA) framework. The decision leaves unlicensed exchanges, including Binance, at risk of suspending operations in the bloc next week.
Under MiCA, firms must secure registration in an EU member state by the deadline or cease servicing European customers. Binance, which withdrew its application in Greece after facing rejection risks, is now scrambling to register elsewhere but may still face a temporary shutdown.
Regulators are coordinating with unlicensed firms to facilitate customer asset transfers if needed. The July 1 cutoff applies uniformly across the EU, with no exceptions for late applicants.