Crypto firms face July 1 EU cutoff as MiCA grace period ends

CoinTelegraph·

Crypto firms face July 1 EU cutoff as MiCA grace period ends

60-second summary

Crypto firms are facing a July 1 EU cutoff as the ESMA's MiCA grace period ends, requiring companies without authorization to stop serving EU clients, even if their licence applications remain under review. Approximately 150 firms are affected, with over 1,000 applications still pending. This move will significantly impact European crypto markets and user access.

The ESMA says crypto companies without MiCA authorization must stop serving EU clients from July 1, even if their licence applications remain under review.