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On June 23, 2026, the European Securities and Markets Authority (ESMA) issued a public statement clarifying expectations for unauthorised crypto-asset service providers (CASPs) to wind down activities following the end of the Markets in Crypto-Assets Regulation (MiCA) transitional period on July 1, 2026. While many CASPs will have obtained authorisation by the deadline, ESMA recognises that other entities, including significant providers currently servicing European Union clients under national regimes, may not be authorised. ESMA expects unauthorised CASPs to take immediate steps to wind down their EU activities in an orderly manner while protecting investors and mitigating risks to market integrity. Unauthorised CASPs must immediately cease onboarding new EU clients, refrain from opening new client relationships or accounts, and stop marketing activities and solicitation. The provision of services must be limited to actions necessary to sell or transfer crypto-assets, reallocate assets, or close positions. Custody of clients' crypto-assets can only continue for the period strictly necessary to complete an orderly exit. ESMA requires unauthorised CASPs to communicate clearly, promptly and repeatedly with clients about measures taken to safeguard their assets and wind-down plans, including a deadline by which residual positions would be closed automatically. Wind-down arrangements must comply with all relevant EU or national conduct laws and anti-money laundering and counter-terrorism financing (AML/CTF) obligations, including customer due diligence measures, transaction monitoring, and sanctions screening. ESMA also reminds CASPs established outside the EU that they cannot provide MiCA services to EU clients or solicit EU clients, including in a business-to-business context. ESMA and National Competent Authorities will coordinate monitoring of significant unauthorised cross-border CASPs to ensure they wind down without delay, focusing on client protection, financial stability and market integrity. Clients are invited to verify whether their provider is authorised under MiCA in the ESMA Register and transfer their crypto-assets to an authorised CASP or self-hosted wallet where necessary.