CNMV's Firm Stance: No MiCA License Extensions
According to Reuters, Carlos San Basilio, Chairman of Spain's market regulator CNMV, publicly stated that for crypto companies that fail to obtain the EU MiCA license by the end of June 2026, the regulator will under no circumstances grant any extensions or exemptions. This means all major crypto trading platforms must comply and exit the EU market, or face legal consequences.
Regulatory Actions: Close Communication and Asset Transfers
CNMV is maintaining close communication with unauthorized crypto companies, focusing on their exit plans and customer asset transfer arrangements. The regulator requires these firms to implement clear exit timelines and ensure safe, orderly transfers of customer funds to compliant platforms. This is a critical step in protecting investor rights.
Investor Warning: No Protection for Trades on Unlicensed Platforms
Carlos San Basilio also warned investors: any new transactions conducted on crypto platforms without a MiCA license will no longer enjoy statutory protections under the MiCA framework. MiCA (Markets in Crypto-Assets Regulation) provides investors with clear legal protections including asset segregation, transparency, and dispute resolution. Once a platform lacks a license, investors face significant risks such as loss of principal and asset lock-up.