MiCA deadline looms: most crypto firms serving EU users still lack authorization

Europe's Markets in Crypto-Assets (MiCA) regime hits a major licensing deadline on July 1, and most firms serving EU users have yet to secure approval. EU register data show that of more than 1,200 companies previously operating under national registrations across the bloc, only about 210 have obtained full MiCA authorization, leaving roughly 83% without a licence with just days remaining. Regulators are signalling a hard cutoff. The European Securities and Markets Authority (ESMA) has said there will be no "pending" status after the deadline: firms will be either authorized or in breach of EU law, with no right to continue serving EU clients. The bottleneck is most visible in market infrastructure. Of the authorizations granted so far, only 14 cover crypto trading platforms.