Spain’s regulator sets out MiCA transition rules for crypto platforms
Spain's CNMV published Q&A detailing MiCA transition rules, setting a December 30, 2025, deadline for crypto platforms to gain authorization.Summary
Spain's national securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), has released a Q&A document outlining how it will implement the EU's Markets in Crypto-Assets Regulation (MiCA). This guidance covers authorizations, notifications, conduct, and the transitional regime, forcing crypto-asset service providers (CASPs) to decide whether to comply or cease operations.
Spain has opted for a shortened transitional period under MiCA, ending on December 30, 2025. Entities wishing to continue offering in-scope crypto-asset services after this date must secure MiCA authorization by then; otherwise, they will be prohibited from operating. This aligns Spain with other EU states like Italy, which are actively using transitional flexibilities.
The CNMV's guidance also addresses how MiCA interacts with existing national registrations and clarifies rules for funds, venture capital vehicles, and investment influencers, framing these steps as part of a broader effort to enhance investor protection.
(Source：Cointelegraph)