The European Securities and Markets Authority (ESMA) has told unauthorized crypto firms to wind down their EU operations, just days before the Markets in Crypto-Assets (MiCA) deadline ends the bloc’s transitional period.

The regulator wants firms without authorization to exit in an orderly way by July 1. It also warned clients that unlicensed providers sit outside MiCA’s investor protections.

How Unauthorized Firms Must Act Before the MiCA Deadline

ESMA issued the statement on June 23, building on an April warning. It sets out how unauthorized crypto-asset service providers (CASPs) must operate after the transitional period ends.

MiCA took force in June 2023, and its full licensing regime began in December 2024. A…