Woofun AI reports that the Spanish Securities Market Commission (CNMV) confirmed it will not extend the EU's MiCA regulatory transition period. Unlicensed crypto platforms are required to halt all operations after July 1, 2026, limiting their activities strictly to asset transfers and account closures while ensuring proper client fund migration.

The regulator emphasized strict adherence to this timeline to align with the broader EU regulatory framework. Consequently, only institutions holding a CASP license will be permitted to provide crypto services, including trading and custody, within the European Union once the new regulations take effect.