Spain regulator rules out extension for non-MiCA compliant crypto companies
Spain’s securities regulator said crypto firms that have not received MiCA approval by July 1 will get no extensions or waivers. Chair Carlos San Basilio said there will be “no exceptions or extensions” to the deadline, which could force Binance and other unapproved exchanges to scale back EU operations. Binance had withdrawn one application in Greece and, as of the report, had not received approval elsewhere. If it fails to secure a license in time, it must stop onboarding new EU users and restrict some services for existing accounts. Some exchanges have won last-minute approvals, but Binance’s large EU user base means the impact could be significant. The situation has prompted some users to consider moving funds to regulated rivals such as Kraken, which holds a crypto license in Ireland.
