The European Securities and Markets Authority (ESMA) has issued a statement on June 23, 2026, ordering unauthorized crypto-asset service providers (CASPs) to wind down their EU operations in an orderly manner by July 1, when the transitional period under the Markets in Crypto-Assets (MiCA) regulation ends. Affected firms must immediately stop onboarding new EU clients, halt all marketing, and can only assist existing users in selling, transferring, or closing positions. Custody services are permitted only to facilitate an orderly exit. ESMA warns clients that unlicensed providers fall outside MiCA’s investor protections. As of June 19, around 168 authorized providers were listed in ESMA’s register, with only 11 licensed to operate trading platforms. Germany leads with 55 authorized firms. This move targets regulatory arbitrage, where firms exploit differences in national regimes. ESMA will coordinate with the European Banking Authority and the EU’s anti-money laundering body to address non-compliance. Binance reportedly faces potential denial of a license in Greece, while OKX, the first global exchange licensed under MiCA, obtained approval from Malta in January 2025. Founder Star Xu emphasized that consistent enforcement is critical to MiCA's success. EU users can check the ESMA register to verify authorized firms.

Key facts

• ESMA orders unauthorized crypto firms to exit EU by July 1, 2026.
• Affected firms must stop onboarding new clients and halt marketing.
• Only 14 exchanges are licensed to operate after the MiCA deadline.
• Regulatory arbitrage targeted; ESMA coordinates with EBA and AMLA.
• Binance faces license denial in Greece; OKX licensed in Malta.