Spain’s top securities regulator said Friday the country will not extend a fast-approaching deadline for crypto firms to register under new regulations—even as Binance struggles to do so.

Under the European Union’s newly implemented MiCA crypto framework, firms have until July 1 to register with a member country and remain operational. If they fail to register by next week, then they will be obligated to cease doing business. European customers will not be able complete transactions with unauthorized crypto service providers after next week.

Binance, the world’s largest crypto exchange, had sought to register under MiCA with Greece. But following a report that the country was unlikely to grant approval,…