75% of European Crypto Firms Face Exit as MiCA Grace Period Ends

So, here's the deal: by July 1, 2026, when the European Union's Markets in Crypto-Assets Regulation (MiCA) grace period ends, about 75% of the crypto companies that were operating in Europe before MiCA will lose their licenses. A legal analysis from Hogan Lovells found that there were over 3,000 virtual asset service providers in Europe before MiCA, with Poland alone having more than 1,400. By May 2026, only 194 had been authorized, and just 14 had full licenses for trading. Ten countries in the EU haven’t issued any licenses at all. In France, the AMF has ordered unlicensed firms to stop operating, with a warning from president Marie-Anne Barbat-Layani about possible criminal charges. Well-known licensed companies include Bitvavo, Bitpanda, Kraken, and others. Compliance costs can hit between €250,000 and €500,000. Unlicensed firms need to get a license, shut down, transfer clients, or merge. The ESMA's Interim MiCA Register, last updated on June 12, is the go-to for official info. Expect a lot of consolidation in the second half of 2026.