Fewer than 200 firms have secured MiCA authorization ahead of the July 1 deadline, pressuring unlicensed operators in the bloc.
The European Union’s Markets in Crypto-Assets regulation (MiCA) transition period expires July 1, requiring firms to hold a bloc-wide license to serve EU users. Only about 200 companies have obtained full authorization, a small share of the pre-MiCA market, according to regulators’ data.
MiCA aims to standardize rules across the 27-member bloc, replacing national regimes. Industry observers note the low approval count reflects stringent compliance demands, though supporters argue clearer regulations will boost long-term adoption. Some firms, including major exchanges, face potential denials.
The deadline is expected to accelerate consolidation, as unlicensed operators risk losing access to EU customers. Regulators are also assessing how decentralized finance protocols fit within the new framework.