1️⃣ Last week European Securities and Markets Authority (ESMA) issued a statement (building on a previous statement of 17 April) informing of its expectations for how unauthorised cryptoasset service providers (#CASPs) must wind down activities after the end of the transitional period under the Markets in Crypto-Assets Regulation (MiCA) on 1 July 2026. While a number of CASPs will have obtained authorisation by tomorrow, other entities, including significant providers currently servicing EU clients under national regimes, may not be authorised by the deadline.
2️⃣ Earlier today, the UK Financial Conduct Authority issued its #cryptoassets regime policy statements. The FCA contends that this new regime sets clear, predictable rules for firms across the full range of regulated cryptoasset activities. It sets standards, strengthens consumer protections, and positions the UK as a trusted, competitive home for responsible cryptoasset innovation.
The regime is underpinned by the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2026 (the Cryptoassets Regulations), which were passed by Parliament on 4 February 2026. These Cryptoassets Regulations brought a broad range of cryptoasset activities within the FCA's regulatory perimeter for the first time, moving well beyond the anti-money laundering and financial promotions standards that previously defined FCA role in this market. The full scope of regulated activities under the regime will expand from 25 October 2027 to gives firms time to prepare and adapt.
Whether you are (i) a VASP (i.e. an unauthroised CASP) dealing with the winddown of your business, (ii) an EEA CASP looking to step in and take up the business and customers of VASPs , (iii) a new EEA entrant looking to decide where to set up your MiCAR CASPs, and/or (iv) a firm seeking to advance under the recently announced UK FCA regime, reach out Fintech Ireland and FINTECH UK. They are part of a growing European Fintech Group. We know many consultants, lawyers & accountants who assist firms expand their crypto-asset offering across the EEA & UK, so that you can have Europe covered. Firms have a number of quality jurisdictions to choose from within the EEA. That is why we work with French Fintech Fintech Malta FintechLithuania.com Official (Fintech Lithuania) Fintech Cyprus Fintech Latvia Netherlands Fintech and Fintech Malaga (Spain).