EU crypto firms face July 1 deadline as most lack licenses

The European Union's Markets in Crypto-Assets (MiCA) regulation mandates that cryptocurrency service providers obtain a license by July 1. However, only 20% of these entities across the EU have secured the necessary authorization, leaving the remaining 80% with a stark choice: cease operations or facilitate the transfer of client assets to licensed firms.

In Poland, the situation is particularly challenging. The country's president vetoed a crucial law, making it impossible for local companies to obtain the required MiCA license. A statement from the Director of the Tax Administration Chamber in Katowice clarified that a Polish registration does not suffice for MiCA-compliant operations, effectively barring these firms from functioning legally within the EU after the July 1 deadline.

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Sam wpis do polskiego rejestru działalności z zakresu walut wirtualnych nie stanowi zezwolenia na prowadzenie działalności regulowanej przez MiCA i po 1 lipca nie będzie uprawniał do wykonywania działalności w zakresie walut wirtualnych, ani w Polsce, ani poza jej granicami.

Major global cryptocurrency exchanges, like Binance, have obtained licenses in other EU countries. However, smaller and medium-sized firms that have not secured licenses must now wind down their operations. The European Securities and Markets Authority (ESMA) has instructed these unlicensed entities to immediately stop accepting new EU clients, halt marketing activities, and limit services solely to the sale or transfer of crypto assets. They must also ensure an orderly exit from the market.

The Polish Ministry of Finance confirmed that entities operating without a MiCA license after July 1 will be in violation of EU law. This regulatory shift highlights a long-standing issue in Poland, where the delayed adoption of crypto-asset legislation has created significant uncertainty and consequences for businesses and investors alike. The future of clients whose funds are held by these winding-down firms remains a pressing concern.

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Po tej dacie (1 lipca 2026 r.; red.) podmioty, które do tej pory prowadziły działalność na rynku kryptoaktywów, a nie uzyskały zezwolenia na podstawie rozporządzenia MiCA muszą zakończyć swoją działalność. Dalsze prowadzenie działalności na terenie UE bez zezwolenia będzie złamaniem przepisów unijnych.