According to CoinJie.com news, the transition period for MiCA (Markets in Crypto-Assets Regulation) will end on July 1, 2026, after which all crypto companies must hold a CASP (Crypto Asset Service Provider) license. Under EU regulations, the current 18-month grace period is about to end. As of now, 83% of registered exchanges still have not obtained licenses, posing real platform risks for European investors. MiCA took effect in June 2023 and was fully implemented in December 2024, with the goal of establishing a unified licensing regime for all 27 EU member states. Under MiCA, CASPs must meet stringent requirements for governance, protection of client assets, and information disclosure. Companies that fail to submit applications before the deadline will face legal consequences. ESMA (European Securities and Markets Authority) has stated clearly that entities that do not hold a MiCA license will be considered in violation of EU law.