Wu Shuo learned that the Spanish National Securities Market Commission (CNMV) has issued an announcement stating that the transition period for crypto asset service providers under the EU Crypto-Asset Markets Regulation (MiCA) will end on June 30, 2026. Starting from July 1, only service providers that have obtained the necessary authorizations will be allowed to continue operating in Spain. The CNMV reminds investors that they should not transact with entities that have not completed the authorization process. Service providers that have not been authorized must develop a customer asset migration plan, enabling customers to withdraw their custodial crypto assets and funds, and—after the customer’s consent—transfer the assets to authorized institutions.