Spain regulator rules out extension for non‑MiCA compliant crypto firms

Spain's securities regulator chair Carlos San Basilio said there will be no exceptions or extensions to the July 1 MiCA deadline for crypto firms that have not received approval to operate in EU member states. He named Binance and other exchanges as affected by the new rules.

Binance withdrew its application with Greece's Hellenic Capital Market Commission and had not received approval from any other authority as of Friday. If it fails to secure a regulator's sign‑off in the next few days, the exchange must halt onboarding of new EU users and limit certain services for EU‑based accounts from July 1.

Basilio warned, "What we are concerned about, however, is how this period — the end of the transitional period — will unfold, and how the adaptation to the new environment will take place; that is why we are in contact with the organisations that have not been granted a licence." Other exchanges obtained last‑minute approvals, but Binance, with millions of EU users, could have a far greater impact on the region's crypto market.

Spain

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