July 1 marks the end of the EU crypto license transition period. Out of 3,000 firms, only fewer than 200 still hold licenses and are operating. This time, the regulatory “iron fist” is for real—unlicensed platforms will be cut off from the network and banned, and ensuring the safety of users’ assets and compliant migration have become the core issues in this final window.

The European Union's Markets in Crypto-Assets Regulation (MiCA) transition period will end on July 1st. Cryptocurrency exchanges, brokers, and wallet service providers that do not obtain a MiCA license will no longer be able to provide services to EU users. Data shows that by May 2026, only 194 crypto companies in the EU will have obtained licenses, while over 3,000 crypto companies registered to operate in 2024. Approximately 75% of existing companies are expected to lose their operating eligibility. Platforms without licenses must stop accepting new deposits, guide users to withdraw assets or transfer to licensed institutions. Some national regulators will also take measures such as website blocking and public warning lists. (CryptoSlate)