San Basilio addressed the industry at an event in Santander, clarifying that the regulator is maintaining close contact with non-compliant firms to oversee their departure from the market. While major platforms like Binance are currently pushing for authorization, the regulator remains focused on the mechanics of client asset transfers and the protection of investor rights during the transition.

For users, the consequences of the cutoff are clear: those dealing with unauthorized platforms will lose access to new transactions and forfeit the legal protections afforded by the MiCA regime. The CNMV is prioritizing transparent communication from these companies regarding their exit plans. Although enforcement currently rests with individual member states, regulators are actively monitoring how platforms shift cash and digital assets to ensure that retail investors are not caught in the vacuum of a sudden service termination.