Spanish regulators clarify no extension for MiCA transition period; crypto platforms without licenses must exit the EU by end of June

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