France · CryptoSlate
Millions of EU crypto users face exchange cutoff as MiCA deadline hits in days
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On July 1, 2026, the temporary permission that lets crypto companies keep operating in Europe while they wait for a proper MiCA license runs out, and it creates a huge problem that lands straight on ordinary users.
Key facts
- On July 1, 2026, the temporary permission that lets crypto companies keep operating in Europe while they wait for a proper MiCA license runs out, and it creates a huge problem that lands straight
- The European crypto market that comes out the other side of July 1 will be smaller and built almost exclusively of and around licensed institutions
- Around 75% of those older firms are expected to lose their right to operate once the grace period ends
- However, those licenses are issued by 27 separate national regulators, and they haven't been working at the same speed or the same standard
Summary
01 MiCA’s July 1 grace period ends, forcing unlicensed crypto firms to stop serving EU customers or shut down. 02 Only 194 crypto firms were licensed in May 2026, so thousands of older platforms may lose access and users may be cut off. 03 The deadline will test whether Europe has one market or a patchwork of national approvals, blacklists, and last-minute transfers. Europe's crypto law, known as MiCA, requires any exchange, broker, or wallet service that wants EU customers to hold an official license.