The long-awaited major regulatory milestone for crypto assets in the European Union has finally arrived. The transition period for the Crypto Asset Market Regulation (MiCA) officially ended on July 1st. From this date onwards, no crypto company operating in the European Union without a MiCA license will be able to serve customers.



This isn't a sudden change; it's the final stage of a long-planned process. The rule was scheduled to fully enter into force in December 2024, but companies previously operating with national licenses were given an eighteen-month transition period. Some member states shortened this period, for example, some countries closed their national transition periods at the end of last year, but today was the final and definitive deadline across the entire Union. The European Securities and Markets Authority (ESRA) made a very clear statement on this matter, stating that no member state has the authority to extend this period and that any company operating without a license after this date will be considered to have acted directly illegally.

The figures clearly show how unprepared the sector was. While there were over twelve hundred companies previously operating with national registrations, the transition to fully authorized MiCA licenses has remained quite low. To date, over two hundred and thirty licenses have been issued across Europe, mostly concentrated in countries like Germany, the Netherlands, and France. This means that the vast majority of remaining companies will either have to cease operations, merge with another company, or undergo a regular liquidation process.

This transition hasn't been smooth for large platforms either. Some major global exchanges' license applications through Greece were unsuccessful due to political interference, forcing these companies to temporarily suspend some of their services in Europe. However, analysts note that the impact on total trading volume may be limited, as euro-denominated transactions constitute a small share of the total volume for such large platforms.

As for what changes practically for users, someone with an account on an unlicensed platform doesn't automatically lose ownership of their assets. However, they risk encountering issues such as account restrictions, withdrawal delays, and difficulties accessing the platform during the regular liquidation process. Therefore, regulators and industry experts recommend that users check the licensing status of the platform where their assets are held and, if necessary, switch to an authorized platform in a timely manner.

The importance of MiCA is not limited to the European market. It is the first comprehensive regulatory framework in the world covering a wide range of areas for crypto assets, from exchange services and custody services to stablecoin issuance and unfair trading practices. Therefore, regulators in other countries are also examining MiCA as a point of reference when developing their own frameworks. For users following the European market through Gate, the key point is that increased regulatory clarity could encourage institutional participation in the medium to long term, but a period of consolidation in the sector seems inevitable in the short term.
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Gate Europe Leads the Way with Dual MiCA and PI Licenses

Just 244 firms hold MiCA licenses across Europe. All others were required to wind down operations by July 1, 2026. Gate Europe secured both MiCA and Payment Institution (PI) licenses ahead of this deadline, establishing a fully compliant foundation for long-term growth in the European market .

A Dual-License Framework for the European Market

Gate Technology Ltd, the Malta-based entity operating as Gate Europe, obtained its MiCA (Markets in Crypto-Assets) license from the Malta Financial Services Authority (MFSA) in 2025. This license authorizes the platform to offer crypto-asset trading, order execution, trading platform operation, and custody services across the European Economic Area .

The MiCA license is complemented by a Payment Institution (PI) license granted under the EU's second Payment Services Directive (PSD2). This dual-license model creates a comprehensive regulatory framework that bridges traditional finance and Web3 infrastructure .

Giovanni Cunti, CEO of Gate Europe, stated: "We are proud to have obtained this Payment Institution license. It enables Gate to build a secure, scalable bridge between traditional finance and Web3, providing fully compliant payment solutions for customers across Europe" .

Passporting Rights Across 30 EEA Countries

With MiCA authorization, Gate Europe holds passporting rights across all 30 EEA member states, including Austria, Belgium, France, Germany, Italy, the Netherlands, Spain, and Sweden . This means a single license from Malta allows Gate to offer its services throughout the EEA without applying for separate licenses in each country .

The passporting mechanism is a cornerstone of EU financial regulation. It enables authorized entities to expand across borders while maintaining consistent regulatory standards. For Gate users, this means the same level of protection and compliance whether they are trading from Berlin, Paris, or Rome .

What This Means for European Users

Gate Europe offers a complete suite of regulated services for eligible EEA users:

· Spot and derivative trading within a fully licensed framework
· Fiat on-ramp and off-ramp settlements through compliant payment channels
· Staking and yield products offered in a regulated environment
· The Gate Card, a Visa-backed debit card enabling crypto-to-fiat spending across Europe

The PI license specifically strengthens the platform's payment capabilities, supporting euro-denominated transactions and stablecoin settlements that align with traditional financial infrastructure .
Beyond Compliance: A Long-Term Commitment

Gate's investment in European compliance extends beyond obtaining licenses. The company has established robust risk management and governance frameworks aligned with MiCA's transparency and consumer protection standards . The platform is committed to delivering trusted digital asset services, user protection, and long-term growth in line with the evolving European regulatory framework .

As Giovanni Cunti noted: "Europe is setting high standards for digital asset regulation. We see compliance as the foundation for sustainable growth in this region" .

A Note on Account Migration

EEA users are being migrated to the Gate Europe platform in an orderly process. Users will receive detailed notifications about their account transition and service updates .

This article is for informational purposes only and does not constitute financial advice. Services are subject to eligibility and regional availability.
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