On July 1, 2026 MiCA’s transition period ends and every crypto exchange serving the EEA needs a member-state licence. Here is the up-to-date roundup of who is staying (Coinbase, Kraken, OKX, Bybit EU, Crypto.com and more) versus who is leaving or restricted (Binance, KuCoin, MEXC, HTX) — plus what it means for your funds and your stablecoins.
The EU’s Markets in Crypto-Assets Regulation (MiCA) gave exchanges a transition period to get authorised. That window closes on July 1, 2026. From that date, every crypto firm serving residents of the European Economic Area (EEA) must hold a MiCA Crypto-Asset Service Provider (CASP) licence from an EU member state — or stop serving EEA users.
The scale of the shake-out is large. OKX’s Europe chief has estimated that roughly 80% of currently operating exchanges will fail to secure a licence and exit the bloc (The Block — OKX Europe chief: 80% of exchanges won’t survive MiCA). For context, the ESMA CASP registry currently lists 200+ authorised providers across the EU (ESMA — Markets in Crypto-Assets Regulation (MiCA) & register of authorised CASPs). The result is a clean split: a licensed group that stays, and a much larger group that leaves or is restricted.
These exchanges secured MiCA (CASP) authorisation from an EU member state, which can be passported across the EEA. They continue to serve EU users after July 1 — with full KYC and a venue-curated asset set (Paybis — MiCA-licensed crypto exchanges (2026)):
These exchanges either failed to secure a MiCA licence, withdrew their application, or were barred by a regulator — so EEA users lose access or are restricted:
Coinbase, Kraken, OKX, Crypto.com, Gemini, Gate.io EU, Bybit EU, Bitstamp and Bitpanda all hold MiCA (CASP) licences and continue to serve EEA users — with KYC and a curated asset set.
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MiCA does not just decide which exchanges stay — it decides which assets they can list. Stablecoins must be authorised as e-money tokens (EMTs) under MiCA to be offered to EEA users. Tether (USDT) lacks that authorisation, so EU-regulated venues are delisting it for European traders.
MiCA-compliant stablecoins — notably USDC and EURC — remain available. So even on an exchange that is “staying,” the pair you have been trading may disappear. For the full picture, read Is USDT Banned in Europe?
If you are an EEA resident with funds on an exchange, there are three sensible steps:
Every option above shares one trait: your access depends on someone else’s licence. The one model a MiCA deadline cannot reshape is self-custody. When you trade from your own wallet, there is no account to migrate, no KYC to re-do, and no company that can be licensed out of your region.
This is exactly the gap Dexly fills. Dexly is a non-custodial front-end to the Hyperliquid exchange: you connect your own wallet and trade hundreds of perpetual markets with no sign-up form. Because Dexly never holds your funds and there is no account to register, a MiCA migration has nothing to act on — Dexly has no licence to lose because it is not the custodian. When an exchange walls off EEA users on July 1, a trader on Dexly simply keeps trading. Fund it with on-chain USDC, on web or the mobile app.
To understand why self-custody removes the lockout risk entirely, read What Is Non-Custodial Trading and our intro to Hyperliquid.
Educational content only — not investment or legal advice. Regulatory status changes quickly; confirm the current licence status and availability in your jurisdiction. Facts verified 2026-06-30.
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