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EU MiCA rollout nears as unlicensed crypto exchanges face mass exit risk

The European Union\'s temporary grace period under the Markets in Crypto-Assets (MiCA) rules ends on July 1, raising the likelihood that users of unlicensed exchanges, brokers and wallet services will face account blocks and withdrawal instructions. MiCA requires formal authorisation for firms serving EU clients, but only 194 entities had approvals across the bloc as of May 2026. Regulators, including France\'s AMF, are warning firms to halt operations without licences.