Regulations
By Jean-Luc Maracon
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An Unprecedented Regulatory Bottleneck. The MiCA regulation — Markets in Crypto-Assets — was designed to unify the crypto playing field…
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What Unapproved Companies Risk. The consequences of not having approval by July 1 are clear: cease operations in the European…
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Regulators Under Pressure, Dialogue Needed. The logistical challenge for authorities is real. Processing thousands of complex applications in…
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The countdown is on. As of June 19, 2026, only 265 crypto companies have secured MiCA approval in Europe — about 5% of the entities involved — as the July 1 deadline rapidly…
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Five percent. This figure has been echoing in the halls of compliance teams for several weeks.
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More than 5,000 entities in the crosshairs.
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The issue isn't so much the willingness of companies to comply. It's the volume. With over 5,000 entities involved, competent authorities in each member country are overwhelmed.
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Each day without approval is another day in operational uncertainty. Internal legal teams are under pressure.
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See also: Lagarde Blocks Binance's MiCA Approval in Greece, European Future of the Platform in Limbo
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That's the immediate risk. But there are other collateral damages that may be more lasting. A company that misses the deadline takes a serious reputational hit.
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Read also: Frances 2027 Quantum Encryption Deadline Puts 3-Year Window on Crypto Security
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For end users, the risk is tangible. If their usual provider doesn't pass the MiCA bar, they'll have to migrate to another service — quickly, probably in a rush, with all the…
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It's still unclear how regulators will handle borderline cases — companies whose applications are under review on July 1 but not yet approved.
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The logistical challenge for authorities is real. Processing thousands of complex applications in a few months, with teams that weren't sized for this, is tough.
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But this slowness has a cost. Companies still waiting accumulate uncertainty. Their relationships with investors become complicated.
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