The MiCA Transitional Period — Key Facts
The Markets in Crypto-Assets Regulation (MiCA) became fully applicable on December 30, 2024. However, Article 143(3) provides an 18-month transitional period ending July 1, 2026, allowing existing crypto-asset service providers to continue operating under pre-MiCA national rules.
This is not an extension — it is a hard deadline. After July 1, 2026, only entities with full MiCA authorization (or a pending application in a jurisdiction that permits continued operation) may provide crypto-asset services in the EU.
Who Benefits from the Transitional Period?
- Entities that were lawfully providing crypto-asset services before December 30, 2024
- In Poland — firms registered in the Virtual Currency Activity Register (RDWW) maintained by the Tax Administration Chamber in Katowice
- In other EU states — entities operating under equivalent national registrations or authorizations
The ESMA Warning
In its December 2025 Statement on MiCA Transitional Measures (ESMA75-113276571-1631), ESMA emphasized that entities benefiting from transitional provisions should:
- Have orderly wind-down plans in place
- Not assume automatic extension of the deadline
- Expect national authorities to carefully examine last-minute applications
Authorization Roadmap
- Legal status audit — determine your classification: CASP, ART issuer, or EMT issuer
- Gap analysis — compare current procedures against MiCA requirements
- Documentation preparation:
- White paper for each offered crypto-asset
- AML/CFT procedures (Directive 2024/1624)
- Complaint handling procedures
- Conflict of interest policy
- Business continuity plan
- Capital requirements — ensure minimum capital: €50,000–€150,000 depending on service category
- Management competence — management body must demonstrate adequate knowledge and experience
- Submit authorization application — to your national competent authority
Cross-Border Strategy
If your national framework is delayed (as in Poland), consider obtaining authorization in another EU jurisdiction and using the MiCA passporting mechanism. Popular choices include Cyprus, Lithuania, Czechia, and France — each with different processing timelines and fee structures.
Preparing for MiCA authorization? Schedule a consultation to review your readiness.