Spanish regulators have confirmed that the MiCA transition period will not be extended; unlicensed crypto platforms must exit the EU by the end of June.

Svmuu News: Carlos San Basilio, Chairman of the Spanish Securities Market Regulator (CNMV), stated that no extensions or exemptions will be granted during the transition period for the EU’s Markets in Crypto-Assets Regulation (MiCA), including for 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 said it is communicating with relevant platforms regarding exit arrangements to ensure the orderly transfer of client assets and protect investor rights. It also reminded investors that, once the transition period ends, new transactions on unlicensed platforms will no longer be protected under the MiCA framework. (Reuters)