Spain’s market watchdog, the CNMV, has announced that it will not grant extensions or waivers to crypto firms that fail to secure licenses under the EU’s MiCA regime. The deadline for securing these licenses is the end of June.
Regulatory Environment
Crypto companies have until the end of June to secure MiCA licenses or wind down operations in the EU. The CNMV’s chair, Carlos San Basilio, stated that there will be no exceptions or extensions to the deadline. The regulator is in close contact with firms that have not obtained authorization to ensure an orderly wind-down of operations.
The CNMV’s priority is to ensure customers are protected during the transition, requiring firms to clearly communicate their exit plans. Investors will not be able to carry out new transactions with unauthorized platforms and would not benefit from MiCA protections if they do so.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
