Overview
- MiCA’s transitional period ended on July 1, 2026, requiring crypto‑asset service providers that fall under the law to hold an EU or national authorisation to onboard or serve EU clients.
- The European Securities and Markets Authority told unauthorised firms to stop onboarding EU customers and to carry out orderly wind‑downs while protecting client assets.
- ESMA launched a Common Supervisory Action on July 8, 2026 to coordinate national regulators’ custody reviews of authorised custodians and to test key management, storage, transaction controls, governance and incident response.
- The custody review will run through the first half of 2027 and ESMA will publish consolidated findings later in 2027 to map operational weaknesses and guide enforcement across member states.
- Separately, the European Parliament has urged the Commission to examine DeFi, staking, lending, NFTs and tokenisation and the Commission’s public consultation stays open through September 30, 2026 with possible regulatory proposals expected next year.