The countdown is almost over. On July 1, 2026, the transitional regime provided for by the MiCA Regulation (Regulation (EU) 2023/1114) for crypto-asset service providers (CASPs) comes to an end: from that date, anyone operating without MiCA authorization loses the legal basis to serve customers in the European Union. For exchanges, custodians and trading platforms, it is the definitive shift from an era of national registrations to a single European license.
What the MiCA transitional regime is and why it is ending
MiCA has been fully applicable since December 30, 2024. To avoid abruptly shutting down operators already active, Article 143(3) introduced a transitional period (so-called grandfathering): entities that provided crypto-asset services in accordance with national law before December 30, 2024 were able to continue operating until July 1, 2026, or until they obtain or are refused MiCA authorization. It was a bridge designed to give firms time to apply and authorities time to review the applications.
What changes for CASPs from July 1, 2026
ESMA has confirmed that July 1, 2026 is the maximum limit at EU level and that no extensions are planned. After that date, providing crypto-asset services to customers in the Union without a MiCA license constitutes a breach of EU law, and the activity must cease. Member States could also shorten the window: Germany and Ireland closed it as early as December 31, 2025, while the Netherlands, Poland, Latvia, Hungary and Slovenia opted for just six months. The European authority has also urged retail investors to check that their provider is actually authorized by consulting the MiCA register published by ESMA before investing or transferring funds.
The situation in Italy
Italy applied the full transitional period, until July 1, 2026. Supervision of CASPs is split between Consob, responsible for conduct and market integrity, and the Bank of Italy, for prudential matters. Operators already registered in the national register kept by the OAM had to apply for CASP authorization in good time so as not to interrupt service to Italian customers: those who do not complete the process by the deadline can no longer offer their services in the EU market.
What to do now
- Check the status of your MiCA authorization application with the competent authority and the remaining review time.
- Map the services actually provided (custody, exchange, operation of trading platforms, order execution, advice) and compare them with the authorized scope.
- Strengthen AML/KYC controls: CASPs are obliged entities and must apply customer due diligence and transaction monitoring.
- Handle reverse solicitation with care: the ESMA guidelines of February 26, 2025 interpret the concept of solicitation broadly (websites, apps, social media, advertising campaigns), so it cannot be used to circumvent the licensing requirement.
- Inform customers about any operational changes and the protections in place.
How AegisX helps you
For CASPs, MiCA compliance does not end with the license: it goes hand in hand with anti-money laundering obligations and ongoing monitoring of customers and transactions. With Crypto Check you simplify the verification and monitoring of crypto-assets and wallets, reducing risks and false positives. And since CASPs are obliged entities, it is worth aligning processes with the new EU AML package right away. Want to find out how to adapt your controls before the deadline? Talk to our team.
This article is for informational purposes only and does not constitute legal or compliance advice.
