Coinbase confronts the July 1, 2026 MiCA deadline, as the European Union prepares to prohibit crypto‑asset service providers that lack formal authorisation from offering services to EU investors.
MiCA Licensing Rules and ESMA Enforcement
The Markets in Crypto‑Assets regulation (MiCA) requires every exchange, broker, or wallet operator serving EU users to obtain a crypto‑asset service provider licence before the transition period expires. ESMA has issued a final warning that firms operating without this approval must halt services and implement wind‑down procedures.
By May 2026, the European regulator listed only 194 authorised entities, a stark contrast to the more than 3,000