Europe’s markets regulator has told unauthorized crypto-asset service providers to shut down EU operations without delay. The European Securities and Markets Authority issued the directive as the Markets in Crypto-Assets Regulation transitional period expires on 1 July 2026.
MiCA is the EU’s landmark crypto regulatory framework. It requires any firm offering crypto services to EU clients to hold a formal authorization. A transitional period allowed existing providers to continue operating under national regimes while they sought approval. That window closes on July 1.
Some firms secured authorization ahead of the deadline. Others did not. ESMA’s statement targets the second group.
According to the ESMA release, unauthorized firms face a clear set of obligations. They must stop taking on new EU clients. Marketing and solicitation to EU residents must cease. New accounts cannot be opened.
Existing services must narrow in scope. Firms can only continue operating to the extent necessary to help clients sell assets, transfer holdings, close positions, or exit the platform.
