July 1, 2026, has passed as the final "hard deadline" for the MiCA transition period across all 27 European Union member states.
With the closure of this 18-month grandfathering window, the European crypto market has entered a new phase of supervised, license-based operation.
ImpactSecond, it has accelerated the institutionalization of the region’s crypto infrastructure. Large platforms that successfully obtained their licenses are now moving to "passport" their services across the entire bloc under a unified regulatory framework, significantly reducing the "regulatory arbitrage" that defined the pre-MiCA era.
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