{"id":2011076,"date":"2026-06-24T09:57:32","date_gmt":"2026-06-24T06:57:32","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=2011076"},"modified":"2026-06-24T09:57:32","modified_gmt":"2026-06-24T06:57:32","slug":"europes-crypto-reset-mica-creates-a-single-market-as-hundreds-of-firms-face-exit","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=2011076","title":{"rendered":"Europe&#8217;s crypto reset: MiCA creates a single market as hundreds of firms face exit"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/80\/81\/85\/1200x675_cmsv2_f1e2646e-c105-5250-8e1b-fdac4cb07645-9808185.jpg&#8221;]<\/p>\n<article id=\"abe-2904919-pos1-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2904919\" data-cid=\"9813600\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904919-label-pos1-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/36\/00\/189x106_cmsv2_b08ef92f-70d1-5397-878f-a9902f7ccad0-9813600.jpg\" loading=\"lazy\" alt=\"An AWS logo is shown at a What&apos;s Next with AWS event Tuesday, April 28, 2026, in San Francisco.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Brussels tightens rules on US cloud providers in tech sovereignty push\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2904925-pos2-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2904925\" data-cid=\"9813643\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904925-label-pos2-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/36\/43\/189x106_cmsv2_c2c063d2-9db0-5271-a026-7ff47bff9fb1-9813643.jpg\" loading=\"lazy\" alt=\"Potential 007 candidates Jacob Elordi, Harris Dickinson and Callum Turner\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Cinema<\/p>\n<div class=\"the-media-object__title  \">\n<p>    License to screen test: Casting for new James Bond enters final stage\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2902530-pos3-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2902530\" data-cid=\"9801374\" data-part-label=\"Partner content\">\n<figure id=\"abe-2902530-label-pos3-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/13\/74\/189x106_cmsv2_19f3be50-590b-5c76-a461-19077f1afce3-9801374.jpg\" loading=\"lazy\" alt=\"Laissons Parler Les Gens LIVE Podcast recording in Brussels, June 05, 2026. Sacko Camara (L), Vanessa Caixeiro, Clentelex (Centre) Youssoupha (R)\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    The podcast discussing ways young Africans are promoting social change\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2904903-pos4-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2904903\" data-cid=\"9813548\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904903-label-pos4-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/35\/48\/189x106_cmsv2_d7e95539-fee9-5cd3-a382-04119dda76a4-9813548.jpg\" loading=\"lazy\" alt=\" A seized suspected Russian oil taker by the French navy is photographed in the Mediterranean Sea in Fos-sur-Mer, southern France, on Jan. 26, 2026. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    French navy boards suspected Russian &#8220;ghost fleet&#8221; oil tanker\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2904919-pos1-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2904919\" data-cid=\"9813600\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904919-label-pos1-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/36\/00\/189x106_cmsv2_b08ef92f-70d1-5397-878f-a9902f7ccad0-9813600.jpg\" loading=\"lazy\" alt=\"An AWS logo is shown at a What&apos;s Next with AWS event Tuesday, April 28, 2026, in San Francisco.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Brussels tightens rules on US cloud providers in tech sovereignty push\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2904925-pos2-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2904925\" data-cid=\"9813643\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904925-label-pos2-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/36\/43\/189x106_cmsv2_c2c063d2-9db0-5271-a026-7ff47bff9fb1-9813643.jpg\" loading=\"lazy\" alt=\"Potential 007 candidates Jacob Elordi, Harris Dickinson and Callum Turner\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Cinema<\/p>\n<div class=\"the-media-object__title  \">\n<p>    License to screen test: Casting for new James Bond enters final stage\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2902530-pos3-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2902530\" data-cid=\"9801374\" data-part-label=\"Partner content\">\n<figure id=\"abe-2902530-label-pos3-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/13\/74\/189x106_cmsv2_19f3be50-590b-5c76-a461-19077f1afce3-9801374.jpg\" loading=\"lazy\" alt=\"Laissons Parler Les Gens LIVE Podcast recording in Brussels, June 05, 2026. Sacko Camara (L), Vanessa Caixeiro, Clentelex (Centre) Youssoupha (R)\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    The podcast discussing ways young Africans are promoting social change\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2904903-pos4-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video\" data-nid=\"2904903\" data-cid=\"9813548\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904903-label-pos4-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/35\/48\/189x106_cmsv2_d7e95539-fee9-5cd3-a382-04119dda76a4-9813548.jpg\" loading=\"lazy\" alt=\" A seized suspected Russian oil taker by the French navy is photographed in the Mediterranean Sea in Fos-sur-Mer, southern France, on Jan. 26, 2026. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    French navy boards suspected Russian &#8220;ghost fleet&#8221; oil tanker\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article class=\"helper-site-row o-article-newsy\">\n<div class=\"helper-site-container o-article-newsy__container\">\n<div class=\"o-article-newsy__main\">\n<header class=\"h-grid o-article-newsy__main__header\">\n<nav aria-label=\"Breadcrumbs\" class=\"c-article-breadcrumbs\">\n<div id=\"adb-article-breadcrumb\" class=\"c-article-breadcrumbs__list\">\n<p>                          Business<\/p>\n<p>                          Business<\/p><\/div>\n<\/nav>\n<h1 class=\"c-article-redesign-title\">\n                            Europe&#8217;s crypto reset: MiCA creates a single market as hundreds of firms face exit<\/h1>\n<div class=\"c-article-image-video u-position-relative \">\n<div class=\"js-superdiv u-aspect-ratio-16x9 u-position-relative \" data-sponsored=\"Partner content\"><img fetchpriority=\"high\" decoding=\"async\" class=\"js-poster-img c-article-media__img\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/81\/85\/1536x864_cmsv2_f1e2646e-c105-5250-8e1b-fdac4cb07645-9808185.jpg\" width=\"1536\" height=\"864\" loading=\"eager\" alt=\"FILE. An advertisement for cryptocurrency is displayed on a building in Hong Kong, November 2021\"><\/div>\n<div class=\"c-article-caption u-position-absolute\"><i id=\"article-caption-content\" class=\"c-article-caption__content\"><span class=\"c-article-caption__text\"><br \/>\n              FILE. An advertisement for cryptocurrency is displayed on a building in Hong Kong, November 2021<br \/>\n                    <span class=\"u-color-white\">&#8211;\u00a0<\/span><span class=\"c-article-caption__copyright\">Copyright\u00a0<\/span><span class=\"c-article-caption__credit\">AP Photo\/Kin Cheung<\/span><\/span><\/i><\/div>\n<div class=\"c-article-image-copyright c-article-image-copyright--novideo\">\n      Copyright\u00a0AP Photo\/Kin Cheung\n  <\/div>\n<\/div>\n<\/header>\n<div class=\"h-grid o-article-newsy__main__body u-article-content\">\n<div class=\"o-article-newsy__contributors-publication-date\">\n<div class=\"c-article-contributors\">\n  By&amp;nbspQuirino Mealha\n<\/div>\n<div class=\"c-article-publication-date\" data-timestamp=\"1782295052\">\n                    Published on                 <time datetime=\"2026-06-24 11:57:32 +02:00\">24\/06\/2026 &#8211; 11:57 GMT+2<\/time><span class=\"c-article-publication-date__bullet\">\u2022<\/span>Updated<br \/>\n                                     <time datetime=\"17:45\">17:45<\/time><\/div>\n<\/div>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div class=\"c-article-share-comment-popup-overlay js-c-article-share-comment-popup-overlay u-display-none\">\n<div id=\"js-c-article-share-comment-popup\" class=\"c-article-share-comment-popup js-c-article-share-comment-popup\">\n<div class=\"c-article-share-comment-popup__header u-display-flex\"><span>Share<\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/icon-close.svg\" width=\"24\" height=\"24\" alt=\"Close Button\" class=\"u-cursor-pointer js-c-article-share-comment-close\" loading=\"lazy\"><\/div>\n<div class=\"c-article-share-comment-popup__content u-display-flex\">\n<div id=\"share-comment-popup-content-container\" class=\"c-article-share-comment-popup__content__container u-display-flex\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-facebook.svg\" width=\"24\" height=\"24\" alt=\"facebook\" loading=\"lazy\"><span>Facebook<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-facebook.svg\" width=\"48\" height=\"48\" alt=\"facebook\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-twitter.svg\" width=\"24\" height=\"24\" alt=\"twitter\" loading=\"lazy\"><span>Twitter<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-twitter.svg\" width=\"48\" height=\"48\" alt=\"twitter\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-flipboard.svg\" width=\"24\" height=\"24\" alt=\"flipboard\" loading=\"lazy\"><span>Flipboard<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-flipboard.svg\" width=\"48\" height=\"48\" alt=\"flipboard\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-send.svg\" width=\"24\" height=\"24\" alt=\"send\" loading=\"lazy\"><span>Send<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-send.svg\" width=\"48\" height=\"48\" alt=\"send\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-reddit.svg\" width=\"24\" height=\"24\" alt=\"reddit\" loading=\"lazy\"><span>Reddit<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-reddit.svg\" width=\"48\" height=\"48\" alt=\"reddit\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-linkedin.svg\" width=\"24\" height=\"24\" alt=\"linkedin\" loading=\"lazy\"><span>Linkedin<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-linkedin.svg\" width=\"48\" height=\"48\" alt=\"linkedin\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-messenger.svg\" width=\"24\" height=\"24\" alt=\"messenger\" loading=\"lazy\"><span>Messenger<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-messenger.svg\" width=\"48\" height=\"48\" alt=\"messenger\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-telegram.svg\" width=\"24\" height=\"24\" alt=\"telegram\" loading=\"lazy\"><span>Telegram<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-telegram.svg\" width=\"48\" height=\"48\" alt=\"telegram\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-vk.svg\" width=\"24\" height=\"24\" alt=\"vk\" loading=\"lazy\"><span>VK<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-vk.svg\" width=\"48\" height=\"48\" alt=\"vk\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"24\" height=\"24\" alt=\"bluesky\" loading=\"lazy\"><span>Bluesky<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"48\" height=\"48\" alt=\"bluesky\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"24\" height=\"24\" alt=\"threads\" loading=\"lazy\"><span>Threads<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"48\" height=\"48\" alt=\"threads\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"24\" height=\"24\" alt=\"whatsapp\" loading=\"lazy\"><span>Whatsapp<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"48\" height=\"48\" alt=\"whatsapp\" class=\"u-show-for-desktop\" loading=\"lazy\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"c-article-summary\">\n        The EU&#8217;s landmark MiCA crypto rules take full effect on 1 July. Yet by May, fewer than one in five of the bloc&#8217;s 1,200-plus registered crypto firms had secured the licence needed to keep serving European clients.<br \/>\n    <\/h2>\n<div class=\"c-article-content c-article-content--business js-article-content\">\n<p>The clock is running down on the most consequential deadline the crypto sector has faced in Europe.<\/p>\n<div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<p>From the start of July, the transitional window under the Markets in Crypto-Assets Regulation (MiCA) closes for good, and companies that have not secured authorisation must either stop serving European customers or wind down altogether.<\/p>\n<p>MiCA is the EU&#8217;s first comprehensive law for the crypto industry, bringing exchanges, brokers and digital wallet providers under the kind of formal oversight that has long applied to banks and other financial firms.<\/p>\n<p>It replaces a fragmented mix of national rules with a single rulebook spanning all 27 member states: a company licensed in one EU country earns a &#8220;passport&#8221; to operate across the bloc, but in return it must meet standards on how much capital it holds, how it is run, how it safeguards customers&#8217; funds and how it prevents money laundering.<\/p>\n<p>&#8220;What emerges is a genuine single market replacing the old patchwork of 27 national regimes,&#8221; Yamal Kalaf, co-founder of MiCAR Whitepapers Europe, which advises crypto businesses on MiCA authorisation, told Euronews.<\/p>\n<p>Since the core rules took effect at the end of 2024, existing operators have been allowed to keep operating under older national registrations, but that concession was temporary.<\/p>\n<div class=\"c-widget-related\" data-stories-id data-event=\"widget_related\">\n<div class=\"c-widget-related__title\"><b class=\"c-widget-related__title__text\" lang=\"en\">Related<\/b><\/div>\n<ul class=\"c-widget-related__list\">\n<li class=\"c-widget-related__item\">EU taxes on digital services, gambling, crypto could yield up to \u20ac11 billion per year \u2013 Commission<\/li>\n<li class=\"c-widget-related__item\">Iran war and Strait of Hormuz disruption drive Wall Street shift to 24\/7 tokenised markets<\/li>\n<\/ul>\n<\/div>\n<h2>Crypto firms need European licences but many are behind<\/h2>\n<p>The scale of the looming shake-out is striking. <\/p>\n<p>According to the European Securities and Markets Authority (ESMA), which confirmed in April that there would be no extension, only around 210 firms had obtained full authorisation by May, out of more than 1,200 that previously held national crypto registrations across the EU.<\/p>\n<p>That points to a conversion rate of well under a fifth, leaving the vast majority of the old market without a licence as the cut-off arrives in a few days.<\/p>\n<p>Speaking to Euronews, Roshan Dharia, CEO of distressed-investment firm Echo Base, explained that &#8220;the low conversion rate suggests that a meaningful portion of the market has concluded that obtaining and maintaining a MiCA licence is not economically viable within its current operating model.&#8221;<\/p>\n<p>National regulators have warned that firms operating beyond the deadline without the new licence face enforcement action. France&#8217;s markets watchdog has also cautioned that continuing without authorisation could expose companies to criminal prosecution.<\/p>\n<p>ESMA has told unlicensed providers to prepare orderly wind-downs, including transferring customer assets to authorised platforms or self-custody wallets, and to notify clients in advance so they can move funds safely.<\/p>\n<p>&#8220;What we will see after 1 July is a smaller, more institutional market with real passporting. That is not a market in retreat. That is a market growing up,&#8221; Miguel Zapatero, Head Counsel at Crossmint, told Euronews.<\/p>\n<p>Crossmint is a crypto infrastructure provider whose licensed rails let developers build wallets, custody and payment products.<\/p>\n<div class=\"c-widget-related\" data-stories-id data-event=\"widget_related\">\n<div class=\"c-widget-related__title\"><b class=\"c-widget-related__title__text\" lang=\"en\">Related<\/b><\/div>\n<ul class=\"c-widget-related__list\">\n<li class=\"c-widget-related__item\">As stablecoins rise, how are governments responding worldwide?<\/li>\n<li class=\"c-widget-related__item\">Germany and Italy propose EU \u2018kill switch\u2019 for global stablecoins<\/li>\n<\/ul>\n<\/div>\n<h2>A market reshaped around licensed rails<\/h2>\n<p>Plenty of familiar names have already cleared the bar.<\/p>\n<p>Coinbase has been authorised in Ireland and Kraken in Ireland and Luxembourg. At the same time, the banking app Revolut secured its licence from Cyprus&#8217;s regulator late last year, allowing it to offer crypto services across the EU.<\/p>\n<p>For these firms, the new rules promise a reward as unlicensed rivals retreat, the survivors stand to absorb their departing customers.<\/p>\n<p>&#8220;MiCA is a genuine regulatory identity shift, not a registration exercise,&#8221; Gal Arad Cohen, partner at law firm S. Horowitz &amp; Co, told Euronews.<\/p>\n<p>The most prominent casualty so far may be Binance, the world&#8217;s largest crypto exchange.<\/p>\n<div class=\"widget widget--type-image widget--size-fullwidth widget--animation-fade-in widget--align-center\" data-ratio=\"0.6665\">\n<div class=\"widget__wrapper\">\n<div class=\"widget__ratio widget__ratio--auto\">\n<div class=\"widget__contents\">\n<figure class=\"widget__figure\"><img decoding=\"async\" class=\"widgetImage__image\" loading=\"lazy\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/81\/85\/808x539_cmsv2_438b3d96-4a79-554e-98d9-26d27770239d-9808185.jpg\" alt=\"FILE. Binance founder and CEO Changpeng Zhao leaves federal court after pleading guilty to violations of US anti-money laundering laws, Seattle, Nov. 2023\"><figcaption class=\"widget__caption\"><span class=\"widget__captionWrap\"><span class=\"widget__captionText\">FILE. Binance founder and CEO Changpeng Zhao leaves federal court after pleading guilty to violations of US anti-money laundering laws, Seattle, Nov. 2023<\/span><span class=\"widget__captionCredit\">Ken Lambert\/The Seattle Times via AP<\/span><\/span><\/figcaption><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Reuters, citing two people familiar with the matter, first reported Binance was set to lose permission to serve EU clients because its licence application to Greece&#8217;s market regulator, the Hellenic Capital Market Commission, was poised to be rejected.<\/p>\n<p>Without approval in any member state, the exchange cannot operate across the bloc from July onwards.<\/p>\n<p>Speaking to Euronews, Patrick Mollard, CEO at Fipto, a blockchain-based payments company for businesses, referred to the Binance case by stating that &#8220;scale earns you no shortcut to a licence, and that is precisely the point.&#8221;<\/p>\n<p>On Wednesday afternoon, Binance officially announced it has withdrawn its application with the Greek authority after originally saying it had worked constructively with regulators for 18 months and believed its application met MiCA&#8217;s requirements. <\/p>\n<p>&#8220;Europe remains an important market for Binance. Our commitment to operating under a clear, fair, and harmonised MiCA framework is unchanged. Our ambitions in Europe remain the same, and we are confident we will secure a licence in the coming months,&#8221; a company statement read.<\/p>\n<p>&#8220;In the meantime, we will take the necessary steps before 1 July to remain compliant with applicable requirements. This means some users may be impacted, and we will communicate directly with affected users to provide clear information on next steps,&#8221; Binance concluded.<\/p>\n<p>The episode also reputedly took on a political dimension. <\/p>\n<p>French crypto publication The Big Whale reported, citing unnamed sources, that ECB President Christine Lagarde had opposed Binance&#8217;s bid for a Greek MiCA licence.<\/p>\n<p>Euronews could not independently verify the report, and neither the ECB nor the Greek government has publicly commented on the allegations.<\/p>\n<p>The Big Whale also reported that Binance is now exploring a potential MiCA application in France after the setback in Greece, a claim that neither Binance nor French regulators have publicly confirmed.<\/p>\n<p>Binance did not immediately respond to a request for comment from Euronews and for the time being it has not publicly indicated in which EU member state it will seek regulatory approval.<\/p>\n<h2>A shake-out for smaller crypto firms<\/h2>\n<p>Beyond the biggest names, the deadline is expected to push smaller crypto apps and brokers towards licensed custody providers. Rather than building their own MiCA-compliant systems, many are likely to rely on authorised firms to hold customer assets.<\/p>\n<p>&#8220;We will see consolidation and transfer of clients as the deadline will not be met by all currently operating entities,&#8221; Floortje Nagelkerke, partner at law firm Norton Rose Fulbright, explained to Euronews.<\/p>\n<p>The result, analysts suggest, will be a smaller, more concentrated European market, with fewer players, higher barriers to entry and a clear advantage for those holding a licence, but stronger consumer protections.<\/p>\n<p>&#8220;People who hold crypto in the EU after 1 July will, on balance, hold it on safer rails,&#8221; Miguel Zapatero, Head Counsel at Crossmint, concluded.<\/p>\n<\/div>\n<p>                                  Go to accessibility shortcuts<\/p>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div id=\"adb-article-you-might-also-like\" class=\"perf-cv-auto c-article-you-might-also-like\">\n<h2 class=\"c-article-you-might-also-like__title\">\n        Read more<br \/>\n      <\/h2>\n<div class=\"c-article-you-might-also-like__container\">\n<article id=\"abe-2903946-pos0-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2903946\" data-cid=\"9808372\" data-part-label=\"Partner content\">\n<figure id=\"abe-2903946-label-pos0-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/83\/72\/480x270_cmsv2_b94cb8a4-1761-5caf-a25f-ef7d42ab54b3-9808372.jpg\" loading=\"lazy\" alt=\"A Leopard 2 A6 tank and a helicopter EC 135 demonstrate their capabilities during a visit of German Chancellor Friedrich Merz to the army at the Bundeswehr base, 30 April 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Germany to take 40% stake in Leopard tank maker KNDS alongside France<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2903877-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2903877\" data-cid=\"9808033\" data-part-label=\"Partner content\">\n<figure id=\"abe-2903877-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/80\/33\/480x270_cmsv2_074cf1fa-121b-54b9-bf58-d43140b3060a-9808033.jpg\" loading=\"lazy\" alt=\"FILE. Head of retail for Luxottica Group Leonardo Maria Del Vecchio, left, posing with friends during the 20th Tribeca Festival in New York, Jun. 2021\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    The Ray-Ban heir who wants to buy out his own family from the brand<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2903278-pos2-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2903278\" data-cid=\"9805466\" data-part-label=\"Partner content\">\n<figure id=\"abe-2903278-label-pos2-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/54\/66\/480x270_cmsv2_5fb8dfdc-d094-58dc-83a7-de5c5060c9aa-9805466.jpg\" loading=\"lazy\" alt=\"Italy&apos;s Andrea Kimi Antonelli steers his Mercedes during the Formula One Monaco Grand Prix race at the Monaco racetrack, 7 June 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    The European countries attracting millionaires \u2014 and those losing them<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto\">\n<ul id=\"adb-article-tags\" class=\"c-tags-list\">\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  cryptocurrency<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Financial regulation<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  European Union<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  crypto<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Coinbase<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Binance<br \/>\n<\/section>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"o-article-newsy__aside\">\n<div class=\"c-ad-wrapper o-article-newsy__aside__content-1\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<div id=\"adb-article-top-stories\" class=\"perf-cv-auto c-top-stories\">\n<h2 class=\"c-top-stories__title\">Top stories<\/h2>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2904094-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2904094\" data-cid=\"9809129\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904094-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/91\/29\/320x180_cmsv2_36a2c281-89de-571b-b972-7568e05a065d-9809129.jpg\" loading=\"lazy\" alt=\"Ein mit Waren gefuellter Einkaufswagen steht am 10. Juni 2009 in einem Supermarkt in Dresden. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Which European countries are the cheapest and most expensive?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2904812-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904812\" data-cid=\"9813023\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904812-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/30\/23\/320x180_cmsv2_fdc9eeb0-0584-5a41-b9b7-607b640c56b7-9813023.jpg\" loading=\"lazy\" alt=\"Ferrari Luce, the company&apos;s first EV model\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Ferrari&#8217;s marketing boss quits after backlash over first EV<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2904796-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904796\" data-cid=\"9812875\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904796-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/28\/75\/320x180_cmsv2_2699418c-20da-5dd7-a12d-b4129a674c99-9812875.jpg\" loading=\"lazy\" alt=\"FILE. A sign marks the entrance of the Micron Technology automotive chip manufacturing plant in Manassas, Virginia, February 2022\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Micron posts record results as AI boom drives 15-fold jump in profit<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2904619-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904619\" data-cid=\"9812440\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904619-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/05\/38\/16\/18\/320x180_cmsv2_af7998ca-4243-5d98-87f3-7a4d1936da46-5381618.jpg\" loading=\"lazy\" alt=\"Luxembourg\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    &#8216;OpenLux&#8217; uncovers new Luxembourg firms linked to wealthy Spaniards<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2904553-pos6-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904553\" data-cid=\"9811675\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904553-label-pos6-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/16\/75\/320x180_cmsv2_6c832235-6086-543c-9c8a-0102876b3351-9811675.jpg\" loading=\"lazy\" alt=\"European Commission President Ursula von der Leyen.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    EU proposes tax overhaul to cut business costs by \u20ac8 billion a year<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-ad-wrapper o-article-newsy__aside__content-2\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-most-viewed\">\n<h2 class=\"c-most-viewed__title qa-section-title\">Most read<\/h2>\n<div class=\"c-most-viewed__list\">\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">1<\/span><\/p>\n<article id=\"abe-2904094-pos1-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2904094\" data-cid=\"9809129\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Which European countries are the cheapest and most expensive?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">2<\/span><\/p>\n<article id=\"abe-2903730-pos2-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2903730\" data-cid=\"9807449\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Which EU countries have the most spare rooms amid the housing crisis?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">3<\/span><\/p>\n<article id=\"abe-2904030-pos3-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2904030\" data-cid=\"9808894\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Why is gold falling as inflation rises? The myth explained<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">4<\/span><\/p>\n<article id=\"abe-2904178-pos4-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2904178\" data-cid=\"9809533\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    SpaceX sheds $600 billion in three days and turns to the bond market<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">5<\/span><\/p>\n<article id=\"abe-2900768-pos5-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2900768\" data-cid=\"9792642\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Dubai is training its private sector in agentic AI \u2013 here&#8217;s why<br \/>\n  <\/h3>\n<div class=\"the-media-object__quote\">Partner content presented by <strong>Dubai Chambers<\/strong><\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-ad-wrapper o-article-newsy__aside__content-3\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<\/article>\n<article id=\"abe-2903946-pos0-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1 the-media-object--has-video\" data-nid=\"2903946\" data-cid=\"9808372\" data-part-label=\"Partner content\">\n<figure id=\"abe-2903946-label-pos0-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/83\/72\/480x270_cmsv2_b94cb8a4-1761-5caf-a25f-ef7d42ab54b3-9808372.jpg\" loading=\"lazy\" alt=\"A Leopard 2 A6 tank and a helicopter EC 135 demonstrate their capabilities during a visit of German Chancellor Friedrich Merz to the army at the Bundeswehr base, 30 April 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    Germany to take 40% stake in Leopard tank maker KNDS alongside France<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2903877-pos1-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2903877\" data-cid=\"9808033\" data-part-label=\"Partner content\">\n<figure id=\"abe-2903877-label-pos1-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/80\/33\/480x270_cmsv2_074cf1fa-121b-54b9-bf58-d43140b3060a-9808033.jpg\" loading=\"lazy\" alt=\"FILE. Head of retail for Luxottica Group Leonardo Maria Del Vecchio, left, posing with friends during the 20th Tribeca Festival in New York, Jun. 2021\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Business<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    The Ray-Ban heir who wants to buy out his own family from the brand<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2903278-pos2-c-article-you-might-also-like__item\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2903278\" data-cid=\"9805466\" data-part-label=\"Partner content\">\n<figure id=\"abe-2903278-label-pos2-c-article-you-might-also-like__item\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/54\/66\/480x270_cmsv2_5fb8dfdc-d094-58dc-83a7-de5c5060c9aa-9805466.jpg\" loading=\"lazy\" alt=\"Italy&apos;s Andrea Kimi Antonelli steers his Mercedes during the Formula One Monaco Grand Prix race at the Monaco racetrack, 7 June 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<h3 class=\"the-media-object__title  \">\n<p>    The European countries attracting millionaires \u2014 and those losing them<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904094-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--has-video the-media-object--no-label\" data-nid=\"2904094\" data-cid=\"9809129\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904094-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/80\/91\/29\/320x180_cmsv2_36a2c281-89de-571b-b972-7568e05a065d-9809129.jpg\" loading=\"lazy\" alt=\"Ein mit Waren gefuellter Einkaufswagen steht am 10. Juni 2009 in einem Supermarkt in Dresden. \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Which European countries are the cheapest and most expensive?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904812-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904812\" data-cid=\"9813023\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904812-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/30\/23\/320x180_cmsv2_fdc9eeb0-0584-5a41-b9b7-607b640c56b7-9813023.jpg\" loading=\"lazy\" alt=\"Ferrari Luce, the company&apos;s first EV model\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Ferrari&#8217;s marketing boss quits after backlash over first EV<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904796-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904796\" data-cid=\"9812875\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904796-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/28\/75\/320x180_cmsv2_2699418c-20da-5dd7-a12d-b4129a674c99-9812875.jpg\" loading=\"lazy\" alt=\"FILE. A sign marks the entrance of the Micron Technology automotive chip manufacturing plant in Manassas, Virginia, February 2022\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Micron posts record results as AI boom drives 15-fold jump in profit<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904619-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904619\" data-cid=\"9812440\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904619-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/05\/38\/16\/18\/320x180_cmsv2_af7998ca-4243-5d98-87f3-7a4d1936da46-5381618.jpg\" loading=\"lazy\" alt=\"Luxembourg\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    &#8216;OpenLux&#8217; uncovers new Luxembourg firms linked to wealthy Spaniards<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904553-pos6-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2904553\" data-cid=\"9811675\" data-part-label=\"Partner content\">\n<figure id=\"abe-2904553-label-pos6-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/81\/16\/75\/320x180_cmsv2_6c832235-6086-543c-9c8a-0102876b3351-9811675.jpg\" loading=\"lazy\" alt=\"European Commission President Ursula von der Leyen.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    EU proposes tax overhaul to cut business costs by \u20ac8 billion a year<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904094-pos1-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2904094\" data-cid=\"9809129\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Which European countries are the cheapest and most expensive?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2903730-pos2-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2903730\" data-cid=\"9807449\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Which EU countries have the most spare rooms amid the housing crisis?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904030-pos3-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-related the-media-object--no-label\" data-nid=\"2904030\" data-cid=\"9808894\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Why is gold falling as inflation rises? The myth explained<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2904178-pos4-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--has-related the-media-object--no-label\" data-nid=\"2904178\" data-cid=\"9809533\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    SpaceX sheds $600 billion in three days and turns to the bond market<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2900768-pos5-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2900768\" data-cid=\"9792642\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Dubai is training its private sector in agentic AI \u2013 here&#8217;s why<br \/>\n  <\/h3>\n<div class=\"the-media-object__quote\">Partner content presented by <strong>Dubai Chambers<\/strong><\/div>\n<\/div>\n<\/article>\n<div class=\"articleBody\" data-key=\"articleBody\">The clock is running down on the most consequential deadline the crypto sector has faced in Europe.From the start of July, the transitional window under the Markets in Crypto-Assets Regulation (MiCA) closes for good, and companies that have not secured authorisation must either stop serving European customers or wind down altogether.MiCA is the EU&#8217;s first comprehensive law for the crypto industry, bringing exchanges, brokers and digital wallet providers under the kind of formal oversight that has long applied to banks and other financial firms.It replaces a fragmented mix of national rules with a single rulebook spanning all 27 member states: a company licensed in one EU country earns a &#8220;passport&#8221; to operate across the bloc, but in return it must meet standards on how much capital it holds, how it is run, how it safeguards customers&#8217; funds and how it prevents money laundering.&#8221;What emerges is a genuine single market replacing the old patchwork of 27 national regimes,&#8221; Yamal Kalaf, co-founder of MiCAR Whitepapers Europe, which advises crypto businesses on MiCA authorisation, told Euronews.Since the core rules took effect at the end of 2024, existing operators have been allowed to keep operating under older national registrations, but that concession was temporary.Crypto firms need European licences but many are behindThe scale of the looming shake-out is striking.According to the European Securities and Markets Authority (ESMA), which confirmed in April that there would be no extension, only around 210 firms had obtained full authorisation by May, out of more than 1,200 that previously held national crypto registrations across the EU.That points to a conversion rate of well under a fifth, leaving the vast majority of the old market without a licence as the cut-off arrives in a few days.Speaking to Euronews, Roshan Dharia, CEO of distressed-investment firm Echo Base, explained that &#8220;the low conversion rate suggests that a meaningful portion of the market has concluded that obtaining and maintaining a MiCA licence is not economically viable within its current operating model.&#8221;National regulators have warned that firms operating beyond the deadline without the new licence face enforcement action. France&#8217;s markets watchdog has also cautioned that continuing without authorisation could expose companies to criminal prosecution.ESMA has told unlicensed providers to prepare orderly wind-downs, including transferring customer assets to authorised platforms or self-custody wallets, and to notify clients in advance so they can move funds safely.&#8221;What we will see after 1 July is a smaller, more institutional market with real passporting. That is not a market in retreat. That is a market growing up,&#8221; Miguel Zapatero, Head Counsel at Crossmint, told Euronews.Crossmint is a crypto infrastructure provider whose licensed rails let developers build wallets, custody and payment products.A market reshaped around licensed railsPlenty of familiar names have already cleared the bar.Coinbase has been authorised in Ireland and Kraken in Ireland and Luxembourg. At the same time, the banking app Revolut secured its licence from Cyprus&#8217;s regulator late last year, allowing it to offer crypto services across the EU.For these firms, the new rules promise a reward as unlicensed rivals retreat, the survivors stand to absorb their departing customers.&#8221;MiCA is a genuine regulatory identity shift, not a registration exercise,&#8221; Gal Arad Cohen, partner at law firm S. Horowitz &amp; Co, told Euronews.The most prominent casualty so far may be Binance, the world&#8217;s largest crypto exchange.Reuters, citing two people familiar with the matter, first reported Binance was set to lose permission to serve EU clients because its licence application to Greece&#8217;s market regulator, the Hellenic Capital Market Commission, was poised to be rejected.Without approval in any member state, the exchange cannot operate across the bloc from July onwards.Speaking to Euronews, Patrick Mollard, CEO at Fipto, a blockchain-based payments company for businesses, referred to the Binance case by stating that &#8220;scale earns you no shortcut to a licence, and that is precisely the point.&#8221;On Wednesday afternoon, Binance officially announced it has withdrawn its application with the Greek authority after originally saying it had worked constructively with regulators for 18 months and believed its application met MiCA&#8217;s requirements.&#8221;Europe remains an important market for Binance. Our commitment to operating under a clear, fair, and harmonised MiCA framework is unchanged. Our ambitions in Europe remain the same, and we are confident we will secure a licence in the coming months,&#8221; a company statement read.&#8221;In the meantime, we will take the necessary steps before 1 July to remain compliant with applicable requirements. This means some users may be impacted, and we will communicate directly with affected users to provide clear information on next steps,&#8221; Binance concluded.The episode also reputedly took on a political dimension.French crypto publication The Big Whale reported, citing unnamed sources, that ECB President Christine Lagarde had opposed Binance&#8217;s bid for a Greek MiCA licence.Euronews could not independently verify the report, and neither the ECB nor the Greek government has publicly commented on the allegations.The Big Whale also reported that Binance is now exploring a potential MiCA application in France after the setback in Greece, a claim that neither Binance nor French regulators have publicly confirmed.Binance did not immediately respond to a request for comment from Euronews and for the time being it has not publicly indicated in which EU member state it will seek regulatory approval.A shake-out for smaller crypto firmsBeyond the biggest names, the deadline is expected to push smaller crypto apps and brokers towards licensed custody providers. Rather than building their own MiCA-compliant systems, many are likely to rely on authorised firms to hold customer assets.&#8221;We will see consolidation and transfer of clients as the deadline will not be met by all currently operating entities,&#8221; Floortje Nagelkerke, partner at law firm Norton Rose Fulbright, explained to Euronews.The result, analysts suggest, will be a smaller, more concentrated European market, with fewer players, higher barriers to entry and a clear advantage for those holding a licence, but stronger consumer protections.&#8221;People who hold crypto in the EU after 1 July will, on balance, hold it on safer rails,&#8221; Miguel Zapatero, Head Counsel at Crossmint, concluded.<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.euronews.com\/business\/2026\/06\/24\/europes-crypto-reset-mica-creates-a-single-market-as-hundreds-of-firms-face-exit&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/80\/81\/85\/1200x675_cmsv2_f1e2646e-c105-5250-8e1b-fdac4cb07645-9808185.jpg&#8221;] Europe News Brussels tightens rules on US cloud providers in tech sovereignty push Cinema License to screen test: Casting for new James Bond enters final stage News The podcast discussing ways young Africans are promoting social change Europe News French navy boards suspected Russian &#8220;ghost fleet&#8221; oil tanker Europe News Brussels tightens [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[226,36],"class_list":["post-2011076","post","type-post","status-publish","format-standard","hentry","category-international","tag-crawlmanager","tag-euronews-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2011076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2011076"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2011076\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2011076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2011076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2011076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}