Written by Turner Wrightstaff writerReviewed by Sam Bourgistaff writer
Written by Turner Wrightstaff writer
Reviewed by Sam Bourgistaff writer
Spain regulator rules out extension for non-MiCA compliant crypto companies
Latest NewsPublishedJun 26, 2026
Carlos San Basilio stated that “there will be no exceptions or extensions” to the MiCA deadline requiring crypto exchanges offering services to EU-based users to be licensed.
The chair of the Spanish National Securities Market Commission reportedly stated that there would be no extensions or waivers for crypto companies that did not receive approval to operate in European Union member states under the Markets in Crypto-Assets (MiCA) framework by July 1.
as reported by a Friday Reuters report, Chair Carlos San Basilio stated that “there will be no exceptions or extensions” to the July 1 MiCA deadline, referring to Binance and other cryptocurrency exchanges affected by the framework. Binance’s operations in the EU are expected to scale back after it withdrew its application with Greece’s Hellenic Capital Market Commission and had not received approval from any other authority as of Friday.
“What we are concerned about, nevertheless, is how this period — the end of the transitional period — will unfold, and how the adaptation to the new environment will take place; that is why we are in contact with the organisations that have not been granted a licence,” stated Basilio, as reported by Reuters.
Should Binance fail to secure approval from a financial regulator in the next few days, the exchange will be required to halt the onboarding of new EU-based users and limit certain services for EU-based accounts starting on July 1. Other crypto exchanges have secured last-minute approvals under MiCA, but Binance, with millions of users in the EU, could have a far greater impact on the region’s crypto market.
Related: Binance’s MiCA fight raises questions over ECB influence
“This is Binance’s philosophy of doing business,” stated OKX founder and CEO Mingxing Xu in response to former Binance CEO Changpeng “CZ” Zhao’s comments on the exchange’s EU deadline. “They ignore laws and regulations, while misleading the public with bullshits. as reported by public media reports and court filings, the platform’s so-called ‘best liquidity’ included trading activity associated with risks involving money laundering, sanctions violations, and market manipulation.”
Cointelegraph reached out to Binance but did not receive an immediate response.
Binance users looking to other exchanges?
With the crypto exchange expected to wind down some operations for EU-based users, some are reporting leaving Binance entirely without a definitive timeline on its return.
Some Reddit users stated that they were considering Kraken for their funds. Payward, doing business as Kraken, has a Crypto Asset Service Provider license through the Central Bank of Ireland.
Magazine: AI is banking the unbanked in Africa… faster than crypto
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
- Binance
- MiCA
- European Union
- Law
- Regulation
More on the subject
SEC, CFTC seek input on unified portfolio margin rules across securities and derivatives
2 hours ago
Nate Kostar
US senators push to end CFTC ‘assault’ on state oversight of prediction markets
3 hours ago
Turner Wright
Hyperliquid added to Singapore’s Investor Alert List
6 hours ago
Zoltan Vardai
SEC, CFTC seek input on unified portfolio margin rules across securities and derivatives
2 hours ago
Nate Kostar
US senators push to end CFTC ‘assault’ on state oversight of prediction markets
3 hours ago
Turner Wright
Hyperliquid added to Singapore’s Investor Alert List
6 hours ago
Zoltan Vardai
