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ESMA sets wind-down expectations as the MiCA transitional period ends
ESMA has called on cryptoasset service providers without MiCA authorisation to stop onboarding new EU clients and begin an orderly wind-down that protects existing clients as the transitional period ends.
ESMA issued a public statement on 23 June 2026 addressing cryptoasset service providers that had not obtained MiCA authorisation before the end of the transitional period on 1 July 2026.
The statement expects unauthorised providers to stop onboarding new EU clients, avoid expanding services and take immediate steps toward an orderly wind-down. Firms must continue safeguarding client interests and mitigating risks to market integrity throughout the process.
The end of MiCA transitional arrangements materially changes the position of firms that relied on national legacy regimes. Providers should verify their authorisation status, cross-border permissions, client communications, withdrawal arrangements and wind-down plans.
Who is affected
Cryptoasset service providers operating in the EU, firms using national transitional regimes, exchanges, custodians, brokers and non-EU providers serving EU clients.