Spain’s securities regulator confirms no delays for crypto exchanges failing to meet EU’s MiCA licensing deadline by July 1.
Spain’s National Securities Market Commission will not extend the July 1 deadline for crypto firms to comply with the EU’s Markets in Crypto-Assets (MiCA) framework. Chair Carlos San Basilio stated no exceptions or waivers will be granted to exchanges lacking approval from an EU regulator by the cutoff date.
The MiCA framework requires crypto exchanges serving EU users to obtain licenses from member states. Binance, which withdrew its application in Greece and lacks approval elsewhere, faces restrictions onboarding new EU users and limiting services for existing accounts if it fails to secure a license in the coming days.
Regulators are monitoring the transition period’s impact on non-compliant firms, with Spain engaging affected organizations to ensure smooth adaptation to the new regulatory environment.