The expiry of transitional licensing provisions under the EU's Markets in Crypto-Assets regulation on July 1, 2026 threatens to sever millions of European users from exchanges and wallet services that have not yet secured full MiCA authorisation. The regulation requires any crypto exchange, broker, or custody provider serving EU customers to hold an approved licence, and firms still operating under temporary permissions will face mandatory suspension of services once the deadline passes. Users on non-compliant platforms could lose access to funds or be forced to migrate to licensed alternatives at short notice. The situation underscores the compliance pressure facing smaller and international crypto firms, many of which have struggled to navigate Europe's complex and costly licencing process ahead of the hard deadline.
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