Binance, the world’s largest exchange by volume, enters July without EU authorisation. Tether’s USDT has already been delisted across major regulated venues. For the first time, a single regulatory framework covers all 30 EEA states, and most of the old market does not fit inside it.

July 1 Marks the End of Europe’s Transition Period

On July 1, Europe’s crypto market stops running on legacy rules. The grandfathering period built into MiCA expires definitively across all 30 EEA countries.

ESMA confirmed in April that there will be no extensions. Firms that were already operating legally before MiCA came fully into force in December 2024 had up to 18 months to transition.

Some member states shortened that window. Germany ended it in…