The MiCAR countdown has pushed Coinmetro into a corner; the restructuring application is just the beginning. How to fill the $1.2 million in old debts and tax gaps is the real focus.

The Estonian exchange Coinmetro has applied to the court for restructuring, suspending registration, deposits, and withdrawals since June 22. The crisis is believed to be related to the MiCAR license deadline, involving multiple financial service providers, with internal investigations ongoing for several years. Prime Trust filed a lawsuit against Coinmetro last year, attempting to recover approximately $1.2 million transferred to Coinmetro. Currently, its annual report is overdue and it has tax debts.