Key points to note:

• CASPs operating under national rules may continue their services until their application is approved, rejected or until the transitional period ends on 1 July 2026, whichever comes first.
• CASPs failing to apply by the deadline must submit a wind-down plan, as they will no longer be permitted to provide crypto-asset services after 1 July 2026 without MiCA authorisation.
• Cross-border services to other EU Member States are subject to the host Member State’s national legislation and to the extent that the grandfathering regime has been adopted, in accordance with ESMA guidance.
• CASPs registered under the national framework remain bound by obligations under both national rules and Regulation (EU) 2023/1113.

CySEC stresses the importance of a seamless transition to the MiCA framework to bolster confidence, transparency, and security in the crypto-asset market.

The CySEC press release can be found here.