Europe's MiCA Deadline Ends June 29; Unlicensed Crypto Platforms Exit EU Market from July 1

From July 1, 2026, cryptocurrency platforms serving EU customers must hold a Crypto-Asset Service Provider (CASP) licence under MiCA regulation. As the transitional period ended on June 29, firms operating without authorisation can no longer legally provide crypto services across the bloc.

Binance's MiCA licence application was reportedly rejected in Greece; the exchange has issued service withdrawal notices to users in France, Italy, Spain and Poland. Although over 1,100 crypto firms previously operated across various national frameworks, only a small number secured MiCA approval. Users are migrating toward licensed platforms such as Kraken and SwissBorg, or to decentralised alternatives like THORChain, which enable asset swaps across blockchains while users retain self-custody in their own wallets.