Overview
- MiCA moved from transition to enforcement on July 1, requiring any crypto-asset service provider serving EU customers to hold a MiCA authorization or begin an orderly wind-down.
- The European Securities and Markets Authority published a post-deadline update that added 37 newly authorized firms and put the interim register at roughly 280 licensed providers.
- Binance withdrew its Greek MiCA application in late June and paused new user registrations and some services for EU customers while it seeks a new national authorization.
- Several well-capitalized entrants secured authorizations in the run-up to the deadline — Standard Chartered, Bridge (Stripe-owned), CoinFlip and FalconX among them — positioning banks and regulated infrastructure to take on displaced users.
- Practical effects for Europeans include removals of non‑compliant stablecoins from regulated exchanges, expected user migration to licensed platforms, and growing retail access to crypto through bank apps that already meet custody and capital rules.