ChainCatcher, citing CryptoSlate, reported that the transition grace period for the European Union’s Markets in Crypto-Assets regulation, known as MiCA, will officially end on July 1, 2026. After that deadline, crypto platforms operating across the EU will need to meet the formal licensing requirements set under the regulatory framework. Platforms that have not secured the necessary authorization will no longer be able to continue relying on the transition period to provide services in the region.
Licensed firms remain far below the number of registered crypto businesses
According to the report, only 194 crypto companies across the European Union had obtained official licenses as of May 2026. That figure contrasts with more than 3,000 crypto businesses registered in 2024. Based on the figures cited in the report, around 75% of legacy platforms are expected to lose their operating eligibility after the grace period ends.
Platforms that fail to obtain a MiCA license must take orderly action before the deadline. The report said such firms will need to wind down operations, transfer users to licensed platforms, or fully exit the European market. The requirement places the focus on whether existing platforms can complete their licensing process before the transition period expires.
France’s financial regulator, the AMF, has taken the strongest stance among the regulators mentioned in the report. The AMF has clearly warned that unlicensed operations can carry penalties of up to two years in prison and a fine of 30,000 euros. For ordinary users, the practical impact is direct: if the platform they use fails to obtain a MiCA license, they may be unable to make deposits and may be required to withdraw their funds.