Spain’s top securities regulator said Friday the country will not extend a fast-approaching deadline for crypto firms to register under new regulations—even as Binance struggles to do so.
San Basilio expressed concern about major crypto platforms like Binance, which are poised to shut down in days due to a lack of MiCA compliance.
"What we are concerned about… is how this period—the end of the transitional period—will unfold, and how the adaptation to the new environment will take place,” he said.
Once a crypto firm registers in an EU country, it is able to “passport” its license to other jurisdictions. EU member states boast a wide range of approaches to financial regulation, from more hands-off jurisdictions like Cyprus and Malta to notoriously rigorous regimes like France and Germany.
While every EU nation may process applications in its own way, however, all will be enforcing the same broader set of crypto-related rules.
