Spanish Regulator Clarifies No Extension to MiCA Transition Period; Unlicensed Crypto Platforms Must Exit EU by End of June

Odaily reports that Carlos San Basilio, Chairman of the Spanish securities market regulator (CNMV), stated that no extensions or exemptions will be granted for the transition period for licenses under the EU's Markets in Crypto-Assets Regulation (MiCA). This applies to platforms such as Binance that have not yet obtained MiCA authorization. Unlicensed crypto companies must exit the EU market by the end of June. The CNMV stated that it is communicating with relevant platforms regarding their exit arrangements to ensure an orderly transfer of client assets and protect investor interests. It also reminded investors that, after the transition period ends, new transactions on unauthorized platforms will no longer be protected under the MiCA framework. (Reuters)