The transition period of the EU Markets in Crypto-Assets Regulation (MiCA) will expire on July 1. Crypto exchanges, brokers and wallet providers without valid MiCA licenses will be prohibited from offering services to EU users thereafter. Statistics show that as of May 2026, only 194 crypto firms across the EU have obtained full licenses, whereas more than 3,000 crypto businesses were registered for operation in 2024. Roughly 75% of existing operators are expected to lose the right to operate. Unlicensed platforms must halt new deposits and guide users to withdraw funds or transfer assets to licensed entities. Regulators in multiple member states will further enforce measures including website blockages and public warning lists.