Map of the European Union with MiCA CASP deadlines colored by member state

MiCA CASP July 2026: The Deadline Country by Country — Where Things Stand Right Now

Nineteen days. June 30, 2026 is the date most European crypto users know as "the MiCA deadline." But the reality is more complicated — and more urgent — than the mainstream narrative has let on. For twelve of the twenty-eight countries involved, that deadline has already passed. Users in those markets are already operating under full MiCA compliance rules. Do they know it?

28
EU/EEA countries involved
12
Countries with grace period already expired
213
Authorised CASPs as of 12 June 2026
10
Countries with zero licences issued

Last updated: 12 June 2026. Data sources: ESMA Art. 143(3) MiCA, official CASP register, CASPTracker.eu.

What Is the MiCA Grace Period for CASPs?

EU Regulation 2023/1114 on markets in crypto-assets — known as MiCA — became fully applicable on 30 December 2024. From that date, anyone wishing to offer crypto services in the European Union must obtain authorisation as a Crypto Asset Service Provider (CASP), the new regulatory category that replaces the older VASP (Virtual Asset Service Provider) designation.

European legislators were acutely aware of the practical reality: hundreds of crypto exchanges and brokers were already operating across Europe, many of them holding national registrations obtained under older AML frameworks. Forcing them to shut down overnight on 30 December 2024 would have been unworkable. The solution was the grandfathering mechanism established by Article 143(3) of MiCA.

The rule is straightforward in structure but far-reaching in effect: each member state may grant its already-registered VASPs a transitional period — anywhere from zero up to a maximum of 18 months — during which they may continue operating without a full CASP authorisation. The clock started on 30 December 2024, the date MiCA became applicable in its entirety.

What this means in practice: An exchange holding an Italian VASP registration that filed its CASP authorisation application by 30 December 2025 (Italy's cut-off for filing) may continue operating until 30 June 2026 — and even beyond that, pending a final decision from OAM/Consob. An exchange registered in the Netherlands has no such guarantee: the Dutch grace period expired on 30 June 2025.

This asymmetry has created a regulatory patchwork unlike anything seen before in European financial services: the same exchange may operate legally in France but not in the Netherlands, be compliant in Italy but not in Finland. Everything depends on when each individual national competent authority (NCA) chose to close its transitional window.

The question every European crypto user should be asking is not "when does MiCA expire?" but "when did it expire in my country?"

The Full Table: Every EU Country and Its Deadline

Below is the complete map of grace periods across all 28 EU/EEA countries, based on the official ESMA list published under Art. 143(3) MiCA and updated as of 12 June 2026.

Countries Where the Grace Period Has Already Expired

These twelve countries are already operating under full MiCA rules. Exchanges serving users in these markets without a CASP authorisation have been doing so illegally for months.

Country Grace period Expired on NCA Authority
🇫🇮 Finland 6 months 30 Jun 2025 Finanssivalvonta
🇭🇺 Hungary 6 months 30 Jun 2025 MNB
🇱🇻 Latvia 6 months 30 Jun 2025 FKTK
🇳🇱 Netherlands 6 months 30 Jun 2025 AFM
🇵🇱 Poland 6 months 30 Jun 2025 KNF
🇸🇮 Slovenia 6 months 30 Jun 2025 ATVP
🇸🇪 Sweden 9 months 30 Sep 2025 Finansinspektionen
🇦🇹 Austria 12 months 30 Dec 2025 FMA
🇩🇪 Germany 12 months 30 Dec 2025 BaFin
🇮🇪 Ireland 12 months 30 Dec 2025 Central Bank of Ireland
🇱🇹 Lithuania 12 months 30 Dec 2025 LB (Lietuvos bankas)
🇸🇰 Slovakia 12 months 30 Dec 2025 NBS

Countries Where the Grace Period Is Still Open (expires 30 June 2026)

Sixteen countries opted for the maximum 18-month transitional period. For them, the deadline is 30 June 2026. Several imposed additional conditions — such as an early filing cut-off — many of which have already passed.

Country Deadline NCA Authority Notes
🇧🇪 Belgium 30 Jun 2026 FSMA Filing required by 8 Oct 2025
🇧🇬 Bulgaria 30 Jun 2026 FSC Filing required by 8 Oct 2025
🇭🇷 Croatia 30 Jun 2026 HANFA 0 CASPs authorised
🇨🇾 Cyprus 30 Jun 2026 CySEC MiCA hub (historically forex)
🇨🇿 Czech Republic 30 Jun 2026 CNB Filing by 31 Jul 2025
🇩🇰 Denmark 30 Jun 2026 Finanstilsynet Filing by 30 Dec 2024
🇪🇪 Estonia 30 Jun 2026 Finantsinspektsioon 0 CASPs authorised
🇫🇷 France 30 Jun 2026 AMF 19 CASPs authorised
🇬🇷 Greece 30 Jun 2026 HCMC 0 CASPs — but hosts Binance application
🇮🇸 Iceland 30 Jun 2026 FME EEA — 0 CASPs
🇮🇹 Italy 30 Jun 2026 OAM / Consob Filing by 30 Dec 2025 — 0 CASPs
🇱🇺 Luxembourg 30 Jun 2026 CSSF Primary hub (Coinbase, Kraken, Bitstamp)
🇲🇹 Malta 30 Jun 2026 MFSA Exchange hub (OKX, Crypto.com, Gemini, Gate.io)
🇵🇹 Portugal 30 Jun 2026 Banco de Portugal 0 CASPs authorised
🇷🇴 Romania 30 Jun 2026 ASF 0 CASPs authorised
🇪🇸 Spain 30 Jun 2026 CNMV CNMV register updated

Primary source: ESMA, List of MiCA grandfathering periods Art. 143(3), available at esma.europa.eu. Norway is not an EU member but adheres to the EEA — included within the MiCA perimeter with a deadline of 30 June 2026.

The Countries That Have Already Closed Their Grace Periods

When people talk about "the MiCA deadline in July," they tend to overlook the fact that for nearly half of Europe, that date is already history. Some of the continent's most important crypto markets have been operating under full MiCA rules for months.

Netherlands: The First Market to Adapt

The Netherlands chose the shortest grace period — six months — and did so deliberately. The AFM (Autoriteit Financiële Markten) had already built a rigorous VASP registry in the years prior, with stringent AML requirements that had already pushed several international operators out of the market. Since 30 June 2025, any CASP serving Dutch users without MiCA authorisation is operating unlawfully.

The outcome speaks for itself: as of 12 June 2026, the Netherlands counts 26 authorised CASPs — the second-largest registry in Europe after Germany. Paradoxically, the decision to close the grace period early accelerated applications: exchanges knew that 30 June 2025 was non-negotiable, and moved accordingly.

Germany: The Biggest Market, the Richest Register

BaFin opted for a 12-month transitional period, setting the deadline at 30 December 2025. It was a considered choice for a complex market: Germany had the largest number of registered VASPs in Europe, many of them small domestic operators that needed time to meet MiCA's capital, governance, and compliance requirements.

The result as of 12 June 2026 is the highest in Europe: 55 authorised CASPs in Germany, representing 29% of all 213 CASPs in the ESMA register. That is no accident — BaFin has historically maintained one of Europe's most efficient registration pipelines, with clear procedures and reasonable turnaround times. Major international exchanges such as Bybit and a range of second-tier operators chose Austria (FMA) or Ireland (CBI) partly because of the procedural and cultural proximity to the German regulatory approach.

Ireland: The European Base for the Big Players

The Central Bank of Ireland (CBI) closed its grace period on 30 December 2025, after 12 months. Ireland has long been the preferred European home for major international fintech groups, and crypto is no exception: Kraken secured its CASP authorisation from Dublin on 25 June 2025 — before the transitional period had even expired — obtaining a passport to operate across all 27 EU member states in one move.

The Hungary and Poland Paradox

Here is one of the most troubling features of Europe's regulatory patchwork. Hungary and Poland both opted for just six months of transitional relief — their grace periods expired on 30 June 2025, nearly a year ago. Yet as of 12 June 2026, both countries have zero authorised CASPs.

What does that mean in practice? Any exchange that was registered as a VASP in either country should have obtained full CASP authorisation by June 2025. If they did not — and the data strongly suggests they did not — they have either quietly withdrawn from those markets, or they are continuing to operate in a grey zone that the MNB (Hungary) and the KNF (Poland) will eventually have to confront.

Warning: If you use an exchange that presents itself as "registered" in Poland or Hungary, check whether it may be operating in breach of MiCA. The grace periods in both countries expired nearly a year ago. Holding an old VASP registration no longer constitutes compliance.

The Countries with a 30 June 2026 Deadline: Who Is Still Waiting

Sixteen countries chose to grant the maximum 18-month transitional period. For them, the countdown ends on 30 June 2026. But even within this group, the situations vary considerably.

Italy: The Filing Window Has Closed, the Licences Have Not Arrived

Italy has a dual-track regulatory architecture: the OAM (Organismo Agenti e Mediatori) has managed the register of crypto service providers since 2022, while Consob has taken on MiCA oversight for public offers of crypto-assets. Under the transitional arrangements, Italian VASPs were required to file their CASP authorisation applications by 30 December 2025.

That date has come and gone. June 30, 2026 is the final deadline. The problem: as of 12 June 2026, Italy has zero authorised CASPs. Retail trading is handled almost exclusively by platforms operating on European passports — licensed in Luxembourg, Malta, or Ireland. The only significant Italian institutional presence in the crypto space, CheckSig, operates in a B2B segment, not retail.

For Italian users, this is not necessarily a problem in practice: they can seamlessly use Coinbase (CSSF Luxembourg), Kraken (CBI Ireland), or OKX (MFSA Malta) — all carrying valid EU passports. But for Italy as a financial ecosystem, it is a concerning signal: Europe's second-largest manufacturing economy has yet to produce a single crypto exchange with a CASP licence. For a deeper look at the exchange landscape, see our complete guide to exchanges and MiCA July 2026.

France: The Richest Market, the Strictest Rules

France is the third-largest market by number of authorised CASPs — 19 entities regulated by the AMF (Autorité des marchés financiers). The AMF had already built one of Europe's most robust VASP registration frameworks, with its "PSAN" (Prestataire de Services sur Actifs Numériques) procedure having trained French operators to high compliance standards since 2020.

France also has the harshest post-MiCA sanctions regime of any EU member state: operating as an unauthorised CASP in France can result in up to two years' imprisonment and a €30,000 fine for individuals, in addition to administrative penalties against the corporate entity. No other EU country has replicated this level of criminal deterrence.

Malta: The Exchange Hub, the MiCA Stress Test

Malta has long been the destination of choice for crypto exchanges seeking a European regulatory base: OKX, Crypto.com, Gemini, and Gate.io have all obtained their CASP authorisations from the MFSA (Malta Financial Services Authority). With the grace period expiring on 30 June 2026, the MFSA is managing an extraordinary workload.

A CASP passport from Malta allows an exchange to serve users across all 27 EU member states — that is precisely why these operators chose Valletta as their regulatory home. For European users, buying bitcoin on OKX or Crypto.com is legal across the entire EU thanks to the Maltese licence.

Luxembourg: The Quiet Hub of Institutional Crypto Finance

If Malta is the home of consumer-facing exchanges, Luxembourg has become the address of choice for major institutional players. The CSSF (Commission de Surveillance du Secteur Financier) granted CASP licences to Coinbase (20 June 2025) and Bitstamp — two operators that together process billions of euros in institutional transactions. The CSSF's regulatory regime is rigorous but efficient, which explains the Grand Duchy's appeal for operators targeting professional clients.

Greece: Zero Licences, One Application That Has All of Europe Watching

Among all the countries with a 30 June 2026 deadline, Greece deserves its own chapter. The HCMC (Hellenic Capital Market Commission) has not yet authorised a single CASP. Not one. And yet Athens has become the stage for the most consequential regulatory dossier in Europe: Binance's application for a CASP licence through its holding entity "Binary Greece."

The application was filed in January 2026. The HCMC engaged EY and KPMG as advisors for a fast-track review. In June, AML Intelligence reported that Binance was "set to be granted" its licence — but as of 12 June 2026, the name does not appear in the ESMA register. Nineteen days remain until the deadline. If Binance fails to secure the CASP licence by 30 June — and cannot demonstrate that a formally complete application is pending — it will be required to cease retail services across the European Union. The world's largest exchange, shut out of 450 million European consumers.

The irony is sharp: the country hosting the most important regulatory application in Europe — the one on which Binance's entire EU future depends — has issued exactly zero CASP licences. The HCMC is under unprecedented international scrutiny.

Who Already Holds a CASP Licence? The ESMA Register as of 12 June 2026

As of 12 June 2026, the official ESMA register lists 213 entities authorised as CASPs across the European Economic Area. They span a wide range: retail exchanges, institutional brokers, crypto custodians, and trading platforms. The distribution is heavily skewed: Germany (55), the Netherlands (26), and France (19) account for nearly half of all European CASPs.

Methodological note: The ESMA register in CSV format formally lists 243 entities. The gap between that figure and the 213 "pure" CASPs is explained by the fact that supervised banks, investment firms, and other already-licensed financial intermediaries may obtain a MiCA passport for crypto services via notification — without needing to apply for a fresh CASP authorisation from scratch. The 213 are specialist Crypto Asset Service Providers. This article uses "over 210 CASPs" when referring to either figure.

For a full breakdown of which exchanges hold licences and how to choose the right platform, see our dedicated analysis: Exchanges and MiCA: who has the CASP licence and who does not.

The table below lists the main consumer-facing exchanges with confirmed CASP authorisations as of 12 June 2026:

Exchange Licensing NCA Country EU Passport
OKX MFSA Malta ✅ All 27 EU states
Coinbase CSSF Luxembourg ✅ All 27 EU states
Kraken CBI Ireland ✅ All 27 EU states
Bybit FMA Austria ✅ All 27 EU states
Gate.io MFSA Malta ✅ All 27 EU states
Gemini MFSA Malta ✅ All 27 EU states
Bitstamp CSSF Luxembourg ✅ All 27 EU states
Crypto.com MFSA Malta ✅ All 27 EU states
Binance — (HCMC under review) Greece (pending) ❌ Not yet
Bitget — (FMA, application filed) Austria (pending) ❌ Not yet

Data: ESMA CASP register, casptracker.eu, updated 12 June 2026. For Binance: application filed with HCMC Greece through "Binary Greece" — not listed in ESMA register as of 12 June. For Bitget: application filed with FMA Austria — not listed in ESMA register as of 12 June. For stablecoins, particularly USDT: Tether has not applied for the EMT (Electronic Money Token) licence required under MiCA — for the full picture read our deep-dive on Tether, KPMG, and the GENIUS Act.

The figure that stands out most: beyond the household names, 10 EU member states have issued zero CASP licences. These include Croatia, Estonia, Greece, Hungary, Iceland, Italy, Norway, Poland, Portugal, and Romania. Across the continent, by the most recent estimates, roughly 80% of pre-MiCA VASPs have yet to obtain full CASP authorisation. Only 14 exchanges across all of Europe hold authorisations specifically for crypto trading platforms.

What Happens on 1 July 2026: Sanctions and Consequences

On 1 July 2026 — the day after the final deadline — MiCA's enforcement regime becomes fully operational across all 27 EU member states. This is not a symbolic date: it is the day on which national authorities can and must act against non-compliant operators.

Administrative Sanctions

MiCA sets a common ceiling for administrative penalties that member states must implement in national law:

It is worth emphasising that these are minimum common thresholds: each member state may apply more severe sanctions. And some will.

France: Criminal Sanctions

France has implemented MiCA with an enforcement framework that goes substantially beyond the European minimum. Operating as an unauthorised CASP in France is a criminal offence:

It is the toughest regime in Europe. A compliance officer at an unauthorised exchange that continues serving French users after 1 July faces a genuine risk of prosecution.

Operational Shutdown and User Funds

Beyond financial penalties, MiCA provides for immediate operational consequences for non-compliant exchanges:

An important note on user funds: MiCA requires non-compliant exchanges to give users the opportunity to withdraw their assets — they cannot simply freeze balances. But forced migration processes, as we saw when certain exchanges exited European markets in earlier phases (some temporarily before obtaining licences), can be chaotic and temporarily expensive in terms of network fees. The time to act is before the deadline, not after.

What about operators who filed before 30 June?

An operator that has submitted a formally complete CASP authorisation application to the competent NCA before 30 June 2026 may continue operating pending the final decision, even after the grace period expires. This is the mechanism that protects Binance in Greece if the HCMC application was correctly filed — even if the final decision does not arrive by 30 June. However, operating in this "pending" status is subject to ongoing NCA oversight, which may impose conditions and restrictions.

What European Users Should Do Right Now

If you are a European crypto user reading this on 12 June 2026, you have 18 days to complete the necessary checks. Here are the priority actions:

1. Verify That Your Exchange Holds a CASP Licence

The official register is available on the ESMA website. It is the most reliable source — more so than any statement from the exchange itself. If your exchange does not appear in that register, it does not hold a CASP licence. You can also check directly on individual NCA pages (BaFin for Germany, MFSA for Malta, CSSF for Luxembourg, and so on).

For up-to-date reviews of MiCA compliance status at Coinbase, Kraken, OKX, and other major exchanges, see our exchange review pages with live MiCA compliance status.

2. Check Your Country's Deadline

Use the table in this article as your reference. If you live in Germany, Austria, Ireland, the Netherlands, Finland, Sweden, Latvia, Slovenia, Lithuania, Slovakia, Hungary, or Poland: the grace period has already expired in your country. Your exchange should already hold a CASP licence. If it does not, it is already operating in breach of MiCA in your jurisdiction.

3. What to Do If Your Exchange Is Not Authorised

There are three options:

  1. Migrate to an authorised CASP — Coinbase, Kraken, OKX, Bybit, Bitstamp, Crypto.com, Gemini, and Gate.io all hold licences with full EU passports. Migration is normally free (on-chain crypto transfer).
  2. Move to a self-hosted wallet — If you prefer maximum autonomy, a hardware wallet (Ledger, Trezor) lets you hold your crypto independently of any exchange.
  3. Wait and monitor — If your exchange has filed a CASP application, it may receive authorisation in the coming weeks. Stay informed. For a deeper look at the options, see our MiCA compliance guide for users.

Practical rule: no authorised exchange will ask you to "do nothing for now" or offer vague reassurances. A licensed CASP has already published clear, specific communications about its MiCA compliance status. If your exchange has gone silent on the subject, that is a red flag.

FAQ: The Most Common Questions About MiCA CASP and the Deadline

Is my exchange already MiCA-compliant?

Check the official ESMA register. Only entities listed in the CASP register are formally authorised. Do not rely solely on the exchange's own communications: look for the name in the ESMA CSV or on individual NCA pages (BaFin, CSSF, MFSA, CBI, FMA). If it is not there, it does not yet hold a CASP licence.

What happens to my funds if my exchange is not authorised?

MiCA does not provide for the freezing of user funds: the exchange is obliged to let you withdraw your assets. However, during transitional phases some exchanges have applied delays or temporary restrictions to withdrawals. The advice is to act before the deadline, not after — pressure on blockchain networks in the weeks following the cut-off is likely to push transaction fees higher.

Can I still use Binance after 30 June 2026?

As of 12 June 2026, Binance does not appear in the ESMA register. The HCMC application (Greece) is under review. If Binance obtains its licence before 30 June — or can demonstrate that a formally complete application is on file — it may continue operating in the EU pending a final decision. If neither condition is met, it will be required to cease services to EU residents. That is the most honest answer available on 12 June: we do not yet know.

Can the grace period be extended beyond 30 June 2026?

No. Article 143(3) of MiCA sets the maximum at 18 months from the date of application of the regulation (30 December 2024), which places the absolute deadline at 30 June 2026. There is no automatic extension mechanism. The European Commission would have needed to propose a legislative amendment to change this date — which it has not done. 30 June is final.

Is USDT still available in Europe after July 2026?

This is a separate matter from the CASP regime and concerns stablecoins. Tether (USDT) has never applied for the Asset-Referenced Token (ART) or Electronic Money Token (EMT) licence required under MiCA. Most authorised CASPs are progressively removing USDT from EU trading pairs, replacing it with USDC (Circle, holding an EMT licence in Luxembourg) or EURC. For the full picture, read our dedicated analysis on Tether, KPMG, and the GENIUS Act.

Sources