Spain's securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), has ruled out granting any extensions or waivers to cryptocurrency firms that fail to secure licences under the EU's Markets in Crypto-Assets (MiCA) regime by the upcoming deadline.
CNMV chair Carlos San Basilio made the statement on Friday, signalling a hardline enforcement posture as the July 1 compliance cutoff nears.
The regulator's refusal to offer grace periods removes a potential lifeline for exchanges that have struggled to navigate the complex authorisation process in time.
The decision intensifies pressure on major platforms operating in the region.
Binance, the world's largest crypto exchange by volume, has already announced it will halt services in France and several other EU member states starting July 1, 2026, after failing to obtain the necessary authorisations.
Spain's stance suggests a coordinated tightening across the bloc, leaving little room for unlicensed operators to continue business as usual.