Utorg Obtains MiCA License as July 1 Deadline Forces Much of the Industry Out of Europe
Utorg, a crypto wallet and card platform, announced it has received full authorization under the EU’s Markets in Crypto-Assets (MiCA) regulation, effective July 1, 2026. This date marks the end of the transitional period, after which unauthorized providers can no longer legally serve European users.
The company is among a small number of platforms to have completed the full authorization process and is now cleared to operate across all 29 EEA member states, a combined market of over 450 million people.
MiCA is the EU’s first unified regulatory framework for crypto-assets, establishing binding standards on consumer protection, transparency, and financial integrity. For users, MiCA authorization means funds must be held separately from company assets, fees must be disclosed upfront, and users have a legal right to file complaints with a national regulator. If a MiCA-authorized platform fails, user assets are protected under EU law.
For Utorg, the authorization results from a full regulatory review of its products, operations, and compliance infrastructure. The company is now subject to regular reporting obligations and supervisory review under EU financial law.
July 1, 2026, is the deadline for crypto-asset service providers to obtain full authorization to serve users in the EEA. In the months leading up to it, a significant portion of the market has withdrawn from or restricted European operations.
Eugene Petrakov, Co-founder of Utorg, said: “Most of the industry spent the last two years hoping MiCA would get delayed or softened. We spent it building toward it. For European users, July 1 means fewer options, stricter standards, and a much shorter list of platforms they can actually trust.”
Utorg’s products available to EEA residents include a crypto wallet supporting 170+ cryptocurrencies and 14 blockchains, and a crypto card accepted at 80 million+ merchants worldwide, with Google Pay and Apple Pay support. The card operates under strict AML and KYC compliance as mandated by MiCA. Utorg also holds a PCI DSS Level 2 certificate for card payments.
Founded in 2019, Utorg is a crypto infrastructure and consumer application fintech company operating across 130+ countries, providing regulated on/off-ramp rails, wallet infrastructure, and stablecoin solutions.