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Crypto exchanges 28.06: two days to MiCA

Sunday before the MiCA deadline: two days left until 1 July. Binance enters July without an EU licence, while Firi, Coinmotion, Coingate and Robinhood stay legal. The EU has issued around 230 CASP licences, but more than 80 percent of platforms remain without one. Bitcoin near 60,000 dollars amid market fear.

Toms Ābeltiņš

29 June 20266 min read

Sunday 28 June: two days until the MiCA deadline. Binance enters July without an EU licence, while regional exchanges Firi, Coinmotion, Coingate and Robinhood stay legal. The EU has issued around 230 CASP licences, but 80 percent of platforms remain without one. Bitcoin near 60,000 dollars in extreme fear.

Sunday, 28 June 2026, was the last quiet day before the end of the European Union's MiCA transition period. With only two working days left until the 1 July deadline, the question for users in the Baltics and the Nordics stayed the same: will the exchange they use still be legal after Tuesday. The world's largest crypto exchange Binance enters July without an EU licence, while regional providers holding valid authorisations prepare to take over the vacated space. Bitcoin traded near 60,000 dollars, with the market still in fear after a week in which US-listed funds recorded one of the largest outflows in their history.

Two days until the MiCA deadline

The MiCA (Markets in Crypto-Assets) regulation requires that, from 1 July, every crypto-asset service provider in the European Union and the European Economic Area must hold a formal CASP (Crypto-Asset Service Provider) licence in at least one member state. The transition period allowed companies that operated under national rules before 30 December 2024 to keep working until the deadline, or until their authorisation was granted or refused. The European Securities and Markets Authority (ESMA) has confirmed that the deadline will not be extended and that firms awaiting a decision may not continue operating under a temporary or pending status.

Data published over the weekend shows that around 230 companies have obtained full CASP authorisation, fewer than one in five of the more than 1,200 providers that previously operated in the EU under national registrations. More than 80 percent of currently active platforms reach the deadline without a licence. Germany has issued the largest number of licences (around 56), followed by the Netherlands and France, while several member states have not issued a single CASP authorisation. Sunday was one of the final moments for undecided users to put their accounts in order.

What it means for Baltic and Nordic users

The Baltic and Nordic region is one of the highest-density crypto markets in Europe, so the outcome of the licensing round will directly affect thousands of users in Latvia, Lithuania, Estonia, Finland, Sweden, Norway and Denmark. In practice, after 1 July unlicensed platforms will no longer be able to offer new trades, deposits or additional services to EU residents, although withdrawals usually remain available during the transition.

Regulators across the region are urging users to check in advance whether the exchange they use is included in the official CASP register. Latvijas Banka, the Bank of Lithuania, Finland's Financial Supervisory Authority (FIN-FSA) and ESMA maintain public lists where the status of each provider can be verified. The warning is unambiguous: after the deadline, using an unlicensed platform means transacting outside the EU's legal framework, without consumer protection mechanisms.

Binance enters July without an EU licence

Sunday passed with Binance's gradual exit from the European market continuing. In the preceding days, the company had begun directly notifying customers in several EU countries that it would suspend most services from 1 July, including new orders, deposits, sign-ups and staking products, having failed to obtain a MiCA licence in time. On 24 June, Binance officially withdrew its MiCA application in Greece a week after reports that the local regulator was preparing to reject it, and now names France as its next possible licensing home.

The company stresses that customer funds remain safe and available for withdrawal, and reaffirms its intention to return to Europe within the coming months with a full licence. For Baltic and Nordic users of Binance, this means that in the remaining days alternatives should be planned, either a switch to a regionally licensed exchange or moving funds to a self-custody wallet.

Regional exchanges that stay legal

In contrast to the uncertainty around the large global platforms, several regional exchanges have already secured their position after the deadline. Norway's Firi, which with more than 400,000 users is the largest crypto exchange in the Nordics, has received a MiCA licence from the Norwegian financial supervisory authority and is expanding into Sweden, its third market after Norway and Denmark. Finland's Coinmotion was the first CASP authorised by FIN-FSA, while Lithuania's Coingate and Robinhood Europe operate under authorisations issued by the Bank of Lithuania.

Lithuania has become one of the region's leading MiCA homes and has already announced that, from the start of next year, it will act against unlicensed crypto firms. Latvia has rapidly established itself as a serious regional licensing centre: Latvijas Banka has issued several full MiCA CASP licences, including to Nexdesk, Hodleris and Bleap. The Ministry of Economics positions Latvia as a gateway to the EU fintech market.

The stablecoin question

The transition affects not only exchanges but also stablecoins. MiCA requires stablecoin issuers to be authorised in the EU and to meet strict reserve and transparency requirements. At present only some of the largest stablecoins meet these requirements, with Circle's USDC and EURC among the few that are fully compliant. The world's largest stablecoin, Tether's USDT, remains outside EU-regulated markets, as its issuer has not applied for authorisation. For Baltic and Nordic users this means that on licensed exchanges trading of some stablecoins may be restricted or replaced with compliant alternatives.

Market backdrop over the weekend

Against the backdrop of regulatory events, the crypto market remained cautious on Sunday. Bitcoin traded near 60,000 dollars, with a slight decline over the past 24 hours. It is still more than half below the October 2025 record above 126,000 dollars. The Fear & Greed sentiment index signalled extreme fear.

The pressure was reinforced by outflows from US-listed Bitcoin funds. In the week ending 26 June, these funds recorded a net outflow of around 1.79 billion dollars, one of the largest weekly figures since their launch in January 2024. On 27 June, market data pointed to roughly 1.45 billion dollars in position liquidations within 24 hours. At the same time, on-chain data showed that some large investors were using prices below 60,000 dollars to add to their positions, reflecting the divergence between short-term selling pressure and long-term buying interest.

What users should do before 1 July

In the remaining days before the deadline, it is worth users in the region carrying out a few simple checks. First, find out whether the exchange they use is in the official CASP register or has at least publicly announced obtaining a licence in an EU member state. Second, pay attention to platform announcements about service changes after 1 July. Third, if an exchange is leaving the EU market, plan in good time to move funds to a licensed provider or a self-custody wallet, rather than leaving it to the last moment.

MiCA aims to introduce uniform rules and greater consumer protection across the EU, but the transition phase creates some short-term uncertainty. For the Baltic and Nordic region, where several licensed regional exchanges already operate, this transition may prove less painful than elsewhere in Europe.

Norriwire Briefing