Spanish Regulator Firmly Rejects Grace Period for EU MiCA Licenses

CoinFeed June 26 news, according to Reuters, the chairman of the Spanish market regulator CNMV, Carlos San Basilio, said that no extension or exemption will be granted to crypto companies that have not obtained a license during the transitional period of the EU MiCA new rules. Relevant platforms must complete licensing or orderly exit the EU market by the end of June. The CNMV is maintaining communication with platforms that have not yet been approved (including large trading platforms such as Binance), focusing on supervising their compliance and investor protection in the process of transferring customer assets and funds to other service providers. San Basilio emphasized that users of unauthorized platforms will be prohibited from conducting new transactions and will not enjoy investor protection under the MiCA framework.