ESMA: Unlicensed crypto firms must halt operations as MiCA grace period ends

The European Securities and Markets Authority (ESMA) has urged unlicensed crypto-asset service providers (CASPs) to smoothly wind down their operations ahead of the July 1 end of the grace period for the Markets in Crypto-Assets (MiCA) regulation. ESMA emphasized that as the MiCA framework comes into full effect, unlicensed operators must either obtain authorization by meeting regulatory requirements or cease their services. MiCA is legislation designed to introduce a unified crypto regulatory framework across the European Union (EU), allowing authorized providers to offer services throughout all member states.