The Spanish National Securities Market Commission (CNMV) has issued an urgent warning to Virtual Asset Service Providers (VASPs) as the transition period for the Markets in Crypto-Assets (MiCA) framework ends on June 30. The CNMV emphasized that only authorized VASPs will be permitted to operate in Spain post-deadline, urging investors to avoid dealing with unauthorized entities to ensure regulatory protections. VASPs without MiCA authorization are advised to develop migration plans to manage client funds, potentially partnering with authorized VASPs to maintain service continuity. The CNMV highlighted that these plans should include a reasonable timeframe for investor withdrawals, with any unwithdrawn assets transferred to authorized entities. With less than half of VASPs licensed under MiCA, ATH21 CEO Cris Carrascosa warned of potential service disruptions for European companies and users.