Spanish Authorities Firm on 'No Extension' for MiCA Grace Period, Binance to Halt Operations in the EU

On the 26th, Carlos San Basilio, the chairman of Spain's market regulatory authority (CNMV), explicitly stated that no extension of the grace period or special measures will be granted to companies unable to secure a license under the EU's comprehensive crypto asset regulatory framework, MiCA, as reported by Reuters.

The grace period ends on June 30, and from July 1st, operating without a license will be considered a legal violation. Particularly, the spotlight is on the major cryptocurrency exchange Binance, which has yet to obtain a license, leading to an impending service suspension.

MiCA, which stands for Markets in Crypto-Assets...