The clock is running down on the most consequential deadline the crypto sector has faced in Europe.
From the start of July, the transitional window under the Markets in Crypto-Assets Regulation (MiCA) closes for good, and companies that have not secured authorisation must either stop serving European customers or wind down altogether.
MiCA is the EU's first comprehensive law for the crypto industry, bringing exchanges, brokers and digital wallet providers under the kind of formal oversight that has long applied to banks and other financial firms.
It replaces a fragmented mix of national rules with a single rulebook spanning all 27 member states: a company licensed in one EU country earns a "passport" to operate across the bloc, but in return it must meet standards on how much capital it holds, how it is run, how it safeguards customers' funds and how it prevents money laundering.
"What emerges is a genuine single market replacing the old patchwork of 27 national regimes," Yamal Kalaf, co-founder of MiCAR Whitepapers Europe, which advises crypto businesses on MiCA authorisation, told Euronews.
