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- MiCA license deadline leaves over 80% of EU crypto firms without full approval.
- Only around 210 of 1,200-plus VASPs have secured full CASP authorization.
- Firms without approval after July 1 risk fines or service restrictions in the EU.
The MiCA license requirements are causing stress to European crypto businesses ahead of the July 1, 2026 deadline. According to reports, over 80% of EU operators have yet to be fully authorized. Many have not yet made the transition to the new regulatory structure.
A total of 1200 plus VASP entities have pre-MiCA national registrations, of which around 210 have received full CASP approval. The number indicates the difference between the previous domestic registration and compliance with the EU. It also leaves several firms facing uncertainty before the transition period closes.
ESMA Confirms Final MiCA License Transition Date
ESMA provided the timeline in its statement of 17 April 2026. The EU-wide transition period for crypto companies will be over on July 1, 2026, it said. Firms without a MiCA license after that date may no longer be allowed to provide services.
Violations could lead to fines of up to 5 million euros or 5% of global turnover. The rule is for the crypto-asset service providers that operate within the EU framework. The regulators have also said that the transition period will not extend beyond the deadline.
Coincub data showed 2,747 VASPs registered for MiCA regulation across Europe in 2024. Poland led the count with more than 1,400 registered firms. France moved more slowly, with only 30% of about 90 unlicensed firms applying by January 2026.
Also Read: Polymarket Users in South Korea Face First Illegal Gambling Investigation by Police
Estonia showed a steeper decline in licensed crypto activity before the MiCA license deadline. Reports said the country had 641 licensed VASPs in June 2021. That number dropped to 45 by October 2024 and 40 by February 2025.
Major Crypto Firms Secure MiCA License Approval
Some major platforms have already moved through the approval process. Public regulator data from May 2026 listed Bitvavo, Bitpanda, Coinbase, and Binance with full CASP authorization. Binance gained its first full MiCA license in 2025 after shifting its EU entity.
Other approved firms include Crypto.com, OKX, Bitstamp, Revolut, CySEC, and Virtu. In the stablecoin sector, Circle’s USDC and EURC remain major compliant assets among leading tokens. Tether’s USDT remains the largest non-compliant stablecoin in that group.
Tether CEO Paolo Ardoino has criticized MiCA’s reserve rules for stablecoin issuers. He said the 60% European bank reserve requirement could create banking and stablecoin risks. The MiCA license deadline now puts remaining firms under final regulatory pressure.
Also Read: Bitmine Launches $300M Preferred Stock Offering to Expand Ethereum Holdings
