Spain Rejects Crypto Licence Extensions Amid EU Deadline Looms

Spain's market watchdog has ruled out extending the deadline for EU crypto licence applications under the MiCA regime. The regulator, led by Carlos San Basilio, stated that there will be no exceptions or extensions to the June 30 deadline.

Crypto companies have until the end of June to secure MiCA licences or wind down operations in the EU. This means major platforms like Binance, which has been trying to get a licence, may need to shut down its European operations if it fails to obtain authorisation.

San Basilio acknowledged that regulating large platforms with millions of users across Europe is particularly challenging. He noted that regulators are monitoring how these platforms transfer client assets and cash to other providers while safeguarding investor rights.