Europe's MiCA rules will cut off unlicensed crypto platforms from serving customers after July 1, 2026. Only 194 firms hold licenses so far, leaving many users at risk of losing access.
On July 1, 2026, the grace period under the EU's MiCA law ends for crypto exchanges, brokers, and wallet services. Unlicensed firms must stop serving EU customers or cease operations.
Only 194 crypto firms were licensed as of May 2026, out of more than 3,000 registered companies from 2024. Up to 75 percent of older platforms could lose their right to operate, according to reports.
France's financial regulator, the AMF, has warned that ignoring the rule is a criminal offense. Penalties include up to two years in prison and a €30,000 fine. AMF president Marie-Anne Barbat-Layani urged companies to submit applications promptly.
Users of licensed platforms should see no immediate change. Others may receive requests to transfer funds or verify identities with compliant providers before the cutoff.
