Signals

What just moved

A running, dated feed of the regulatory and enforcement developments worth noting — short entries, each pointing to the primary source. Where the Regulatory Watch shows how mature an instrument is, Signals records what changed and when.

01 Jul 2026EUESMA
MiCA transition window closed — providers must hold authorisation or stop serving EU clients
The last national transitional regimes closed on 1 July 2026: a crypto-asset service provider without MiCA authorisation may no longer serve EU clients, and reverse solicitation is the only — narrow, closely-scrutinised — residual route. Verify counterparty authorisation against the ESMA register.
Primary source ↗
12 Jan 2026CHFINMA
FINMA Guidance 01/2026 published — supervisory expectations reset on custody of crypto-based assets
Resets supervisory expectations on segregation, bankruptcy remoteness and client-asset protection for Swiss crypto custodians and the institutions they serve.
Primary source ↗
01 Jul 2025EUAMLA
EU AMLA operational in Frankfurt — new central AML supervisor stands up
The EU's new central AML supervisor is operational in Frankfurt from 1 July 2025. It will directly supervise around 40 selected high-risk obliged entities from 2028 and coordinate national supervisors; the selection process runs from mid-2027.
Primary source ↗

What just moved

MiCA transition window closed — providers must hold authorisation or stop serving EU clients

FINMA Guidance 01/2026 published — supervisory expectations reset on custody of crypto-based assets

EU AMLA operational in Frankfurt — new central AML supervisor stands up