Crypto exchanges 18.06: Bitcoin down, equities up

Thursday, 18 June 2026, played out in the crypto market with a clear split between asset classes: traditional equity markets rose, supported by the approaching signing of the US and Iran peace deal, while Bitcoin and other crypto-assets continued to retreat under the influence of the previous day's hawkish Federal Reserve decision. In the Baltic and Nordic crypto sector, attention remained fixed on the approaching end of the MiCA transition period - counting from 18 June, just twelve days remain until the 30 June deadline. The region's most significant regulatory story, the possible rejection of Binance's MiCA licence in Greece, emerged earlier in the week and on Thursday still had no final outcome.

Market: Bitcoin retreats while equities climb

On Thursday the crypto market was marked by an unusual divergence between asset classes. Equity markets traded the geopolitical relief offered by the US and Iran peace agreement, while Bitcoin still reflected the previous day's hawkish Federal Reserve signal. Bitcoin opened Thursday morning around 64,450 dollars - roughly 1.8 percent below Wednesday's open - and over the course of the day slipped below 64,000 dollars, testing the level of about 63,900 dollars. Over the past 24 hours Bitcoin lost roughly 1.3 percent.

This gap captures the mood of the moment: equity investors reacted to a risk-reducing geopolitical event, while the crypto market was still drawing conclusions from one of the most hawkish Federal Reserve meetings in years. The pressure was reinforced by the persistently large outflows from US-listed Bitcoin exchange-traded funds, which have been historically heavy since mid-May. This is a typical picture for a period when macroeconomic and capital-flow factors outweigh individual crypto-asset narratives.

Binance's MiCA application in Greece still unresolved

This week the most significant regulatory news for regional users came from the world's largest exchange, and on Thursday it remained current. On 16 June the news agency Reuters reported that Greece's Capital Market Commission is preparing to reject Binance's MiCA licence application. Binance had filed its application in Greece in January 2026, choosing Athens as its registration country in the European Union over more traditional hubs such as Frankfurt or Amsterdam.

If the rejection is confirmed, from 1 July Binance could lose the ability to serve clients across the European Union and the European Economic Area, including in the Baltics and the Nordics. MiCA provides for a single authorisation system: a licence issued by one national regulator grants the right to provide services in all 27 member states. Binance, for its part, maintains that over the past eighteen months it has worked constructively with regulators and that in its view the application complies with MiCA requirements. A final decision had not been publicly confirmed on Thursday, so this story remains at the top of the watchlist until the deadline.

The Baltics and the Nordics: twelve days to the deadline

The transition period for the European crypto-asset regulation MiCA is nearing its end. From 1 July 2026, any operator offering crypto-asset exchange, custody or other services in the European Union and the European Economic Area will need a full Crypto-Asset Service Provider (CASP) licence. On 17 April the European Securities and Markets Authority confirmed that the deadline will not be extended in any member state and that after 1 July operating without a licence will be a breach of European law.

According to the ESMA interim register, by 18 June roughly two hundred service providers had obtained a full CASP licence in the European Economic Area, although various public registers report this figure slightly differently because it is updated weekly. The regional picture has remained unchanged in recent weeks. Latvia and Lithuania each have six licensed crypto-asset service providers, while Estonia has two. Latvijas Banka positions Latvia as a regulated entry point to the European single market, while in Lithuania, where the national transition period ended earlier this year, operating without a full CASP licence is prohibited and subject to supervision by the Bank of Lithuania.

In the Nordics, attention remains on Norway, whose transition period was extended to 30 June following a proposal by the Financial Supervisory Authority, aligning Norway's schedule with the rest of Europe. In May the Norwegian supervisor issued the first full CASP licence to a local crypto exchange, and several other domestic platforms have applied. In Finland, the FIN-FSA-licensed Coinmotion and Northcrypto continue to operate. At the same time, it should be noted that several European and European Economic Area countries have so far issued no CASP licences at all, so the regional picture remains uneven.

What to watch in the coming days

In the coming days three things remain in focus: the market's reaction to the Federal Reserve's more hawkish tone and the signing of the US and Iran peace deal planned in Geneva on 19 June, the final outcome of Binance's MiCA application in Greece, and possible last licensing announcements from regional regulators before the 30 June deadline. Investors who use Baltic or Nordic crypto exchanges are still advised to check their operator's MiCA licence status in the European CASP register or the national regulator's list before the deadline arrives.

Sources

• ESMA - Markets in Crypto-Assets Regulation (MiCA) overview
• ESMA - Statement on the end of transitional periods under MiCA (17 April 2026)
• Bank of Lithuania - Authorisation of crypto-asset service providers
• Latvijas Banka - Crypto-asset service providers
• Finanssivalvonta - Crypto-asset service providers (FIN-FSA)
• Yahoo Finance - Bitcoin and ethereum prices today, Thursday, June 18, 2026: Prices sliding despite Iran peace deal