Woofun AI reports that Spain’s National Securities Market Commission (CNMV) has confirmed it will not extend the deadline or grant exceptions for cryptocurrency firms seeking a license under the European Union’s Markets in Crypto-Assets (MiCA) regulation. CNMV Chairman Carlos San Basilio explicitly stated that there will be no extensions or exemptions for crypto companies that fail to secure a MiCA license by the June deadline.

The regulator is currently in close consultation with unauthorized firms to ensure an orderly wind-down of their operations in Spain. Companies that do not obtain the necessary license will be required to cease operations and manage a structured exit from the Spanish market.