Odaily, citing Cryptoslate, reported that the transitional grace period for the European Union’s Markets in Crypto-Assets regulation, known as MiCA, will officially end on July 1, 2026. Once the deadline arrives, crypto platforms that have not obtained a formal MiCA license will no longer be able to continue operating in the EU under their existing status.
A sharp gap between licensed firms and registered crypto businesses
As of May 2026, only 194 crypto companies across the European Union had secured formal licenses. By comparison, more than 3,000 crypto businesses were registered in 2024. Based on those figures, around 75% of legacy platforms are set to lose their operating eligibility after the end of the grace period, requiring affected firms to complete their compliance arrangements before the deadline.
Platforms without a license must orderly shut down, transfer users to licensed platforms, or fully exit the European market before July 1, 2026. France’s financial regulator, the AMF, warned that operating without a license can carry penalties of up to two years in prison and a fine of 30,000 euros. For users, if the platform they use fails to obtain a MiCA license, they may face situations such as being unable to make deposits or being required to withdraw funds.