European Union’s ESMA Orders Unlicensed Crypto Firms to Exit EU Market as MiCA Deadline Arrives
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ESMA has ordered unlicensed crypto firms to cease serving EU clients and wind down operations ahead of the MiCA authorization deadline on July 1, 2026. For Bitcoin this may cause short-term disruption to EU on/off-ramps and liquidity as noncompliant venues exit, but should concentrate flows into regulated exchanges and custodians — potentially reducing counterparty risk and supporting greater institutional participation in the EU market.
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