- Spain ruled out extending the July 1 MiCA deadline.
- Unlicensed crypto firms must stop operating in the EU.
- Binance remains without a MiCA license.
- Regulators are preparing for customer asset transfers.
Spain's securities regulator has confirmed there will be no extension to the European Union's July 1 MiCA licensing deadline, increasing pressure on crypto firms that have not yet secured regulatory approval.
Under the new rules, exchanges and crypto service providers must hold a MiCA license from an EU member state to continue operating across the bloc. Companies that fail to obtain approval by the deadline will be required to stop serving European customers.
The announcement comes as Binance continues searching for a new licensing jurisdiction after withdrawing its application in Greece. Without approval before July 1, the exchange could be forced to temporarily suspend services for EU users.
Spanish regulator Carlos San Basilio said authorities are already working with affected firms to ensure customer assets can be safely transferred if operations need to wind down.
While each EU country handles licensing applications independently, a successful MiCA license can be "passported" across all member states, allowing firms to operate throughout the European Union.
With the deadline only days away, regulators have made it clear that there will be no grace period or exceptions for companies that remain unlicensed.
