Spain's CNMV issued an emergency warning before the MiCA transition period ended on June 30.

CoinFeed reported on June 16th that, according to Bitcoin.com, the Spanish National Securities Market Commission (CNMV) issued a statement on Monday warning Virtual Asset Service Providers (VASPs) to be aware of the impending consequences of the MiCA framework. The agency emphasized that after June 30th, the grace period for VASPs benefiting from the transition will end, and only authorized VASPs will be allowed to operate in the country. The CNMV stated, "Investors should not deal with entities that have not yet completed the authorization process, as they will not be able to enjoy the protection and oversight mechanisms provided by the aforementioned regulations." VASPs operating in Spain without MiCA authorization can devise migration plans to manage customer funds, including reaching agreements with other authorized VASPs to allow customers to continue receiving crypto services.