EU Crypto Firms Face Deadline for MiCA Compliance

The European Union's (EU) Markets in Crypto-Assets Regulation (MiCA) is nearing its final cutoff date of July 1, 2026. As the deadline approaches, it has been revealed that over 80% of crypto firms operating in the EU have not acquired full MiCA licenses.

According to reports, only around 210 of the 1,200-plus Virtual Asset Service Providers (VASPs) with pre-MiCA national registrations have converted to full Centralized Ancillary Service Provider (CASP) authorization. This has raised concerns among regulators and industry experts that many firms may not be compliant with EU law.

The ESMA released a statement on April 17, 2026, emphasizing the importance of obtaining MiCA licenses before the deadline. Any exchange or crypto platform serving EU clients without a full MiCA license must cease operations or face penalties up to €5 million or 5% of global turnover.

Notable crypto firms that have secured full MiCA CASP authorization include Bitvavo, Bitpanda, Coinbase, Binance, Crypto.com, OKX, Bitstamp, Revolut, CySEC, and Virtu. However, stablecoins such as Tether's USDT remain non-compliant, with concerns raised about the potential risks of holding 60% of reserves in European banks.