The European Securities and Markets Authority (ESMA) has directed unauthorized crypto asset service providers to stop accepting new EU clients and begin exiting the market before MiCA’s transitional framework expires. The European Securities and Markets Authority (ESMA) has instructed unauthorized crypto asset service providers (CASPs) to begin winding down their EU operations before the Markets in Crypto-Assets Regulation (MiCA) transitional period ends on July 1, 2026. The regulator issued the guidance on June 23 as some providers remain without MiCA authorization despite continuing to serve EU clients under national regimes.