Restructuring Filing and Service Suspension
According to a report by Protos, the Estonia-based cryptocurrency exchange Coinmetro has filed a restructuring application with the local court. The platform stated that the move was triggered by "special circumstances arising from the collapse of a financial services provider" and has fully suspended user registration, deposits, and withdrawals as of June 22. This means users are currently unable to deposit funds or withdraw assets, leaving the platform in a frozen state.
Funding Gap: A Fatal Blow Ahead of MiCA Compliance
Coinmetro CEO Kevin Murcko revealed in a statement that the failure of the relevant financial services provider actually occurred years ago, but the funding gap was not filled at the time. As the July 1, 2026 compliance deadline for the European Union's Markets in Crypto-Assets Regulation (MiCA) approached, this legacy issue dealt a substantial and fatal blow to the company's balance sheet. MiCA requires crypto asset service providers to obtain a compliance license by July 1, 2026, and exchanges must meet regulatory requirements regarding their financial health. The funding gap prevented Coinmetro from passing the compliance review, ultimately forcing it to seek restructuring.
Historical Burdens: Annual Reports, Tax Arrears, and the Prime Trust Lawsuit
In addition to the funding gap, Coinmetro faces a series of compliance and legal issues in Estonia. The report notes that the exchange currently has overdue annual reports and outstanding tax payments. Earlier, in August 2025, Coinmetro was sued by the bankruptcy trustee of Prime Trust, seeking to recover approximately $1.2 million that Coinmetro had withdrawn before Prime Trust's collapse. These historical burdens have further aggravated Coinmetro's financial difficulties, making it unsustainable as the regulatory window closes.
Coinmetro's restructuring application is currently under review. Whether the exchange can recover through restructuring and protect user assets remains to be seen. This case also serves as a warning for other small and medium-sized exchanges facing financial pressure on the eve of MiCA compliance.