If you have crypto assets on an exchange that is not CASP licensed under the MiCA RegulationYou have little time to act. The transition period that has given European providers time to adapt to the new regulatory framework ends on July 1, 2026. Unauthorized platforms that continue to provide services to European customers after that date will be in breach of European law and, in practice, may be forced to restrict operations, freeze withdrawals, or initiate closure proceedings at any time.
This guide is practical and straightforward. It won't tell you which cryptocurrencies to buy or when to buy them. It will tell you exactly how to move the ones you already own to a licensed exchange, the order in which to do each step, and what precautions to take to ensure the process is secure and leaves your tax situation in order.
Why migration matters and why do it now
La ESMA On April 17, 2026, it published a statement that left no room for interpretation: the MiCA transition period expires on July 1, 2026, throughout the European Union, and from that date onward, any entity providing crypto-asset services without a CASP license will be in breach of European law. No extensions are planned.
The risk to the user isn't that their assets will suddenly disappear: in an orderly shutdown process, the platform should return your assets or facilitate their transfer. The real risk is more prosaic but equally important: that when you need to trade—sell, transfer, or use your assets—the platform may have restricted that functionality or be in the process of shutting down, with the timelines that entails.
Migrating in advance means acting calmly, not urgently. With days or weeks to spare, you can choose the right moment, verify each step, and ensure your tax history is complete. Leaving the migration until the last minute means competing with thousands of other users in the same situation, potential withdrawal delays, and a higher risk of errors.
Block 1: Verify the regulatory status of your current exchange
Before doing anything else, you need to know for sure whether the exchange you're using is CASP-authorized or not. The verification process is simple.
The official register of authorized CASPs is maintained by ESMA on its portal (esma.europa.eu), in the section for crypto asset market registries. The CNMV also maintains its own register for authorized entities in Spain. Both are updated frequently—ESMA's weekly—and are the only sources you should use for this verification.
One point that can cause confusion: the exchange's trading name may differ from the legal name of the registered entity. If your platform doesn't appear under its brand name, also search for the legal name listed in its terms of service or account documentation. Many exchanges operate under legal names different from those they advertise.
If your exchange is listed in the registry, you're on a regulated exchange and don't need to migrate for regulatory reasons—though you can always explore alternatives for other reasons. If it's not listed, check for any official communication from the platform regarding its authorization process or closure plans. If there's no official information and the exchange isn't listed anywhere, it's time to start the migration process.
Block 2: Export the complete transaction history
This is the step users most often leave until the end, and it's the one that causes the most problems afterward. Before initiating any transfer, export the complete history of all your transactions on your current exchange.
This history includes all cryptocurrency purchases, all sales, all cryptocurrency swaps, all incoming and outgoing transfers, any staking or participation rewards you've received, and the prices at which those transactions were executed. You need this record in an exportable format—CSV, Excel, or whatever format your tax software accepts.
Why it's essential: The Spanish Tax Agency and its European counterparts require you to be able to prove the purchase price and date of each cryptocurrency to correctly calculate capital gains or losses when you sell or exchange them. Without this record, tax reconstruction can be very costly. With the entry into force of DAC8 in January 2026, regulated exchanges automatically report their users' transactions to European tax authorities, but this does not eliminate your obligation to maintain your own records.
Export the transaction history before initiating any transfers. Once you start moving assets, the transaction history can become more complex to interpret if you don't have a clear starting point.
Block 3: Verify withdrawals before acting
With the exported history, the next step is to confirm that withdrawals are available and working normally on your current exchange. This step may seem obvious, but in situations of regulatory pressure, some platforms have implemented temporary withdrawal restrictions or waiting queues.
Initiate a test transaction with a small amount to an address you control—a personal wallet or an address on the new platform you plan to migrate to. Verify that the transaction is executed within the usual timeframe and that it arrives correctly at its destination.
If withdrawals are restricted or there are unusual delays, contact platform support and inquire about the service status. Do not deposit additional assets into a platform experiencing withdrawal issues. If the situation is not resolved within a reasonable timeframe, document your withdrawal attempts and consider seeking legal or regulatory assistance.
Block 4: Create an account and complete KYC on the target platform
With the exported history and withdrawals confirmed as available, the next step is to open your account on the destination platform and complete the identity verification (KYC) process before initiating any transfers.
MiCA requires all CASPs to verify the identity of their users. This process includes, at a minimum, verifying an official identity document and proof of life (usually a selfie or short video). Depending on the volume of assets and the user's profile, additional documentation may be required.
The time required to complete KYC varies: under normal circumstances, it takes between a few hours and two business days on efficient platforms. During periods of high demand—like the one we're currently experiencing, with many users initiating simultaneous migrations—it can take longer. That's why it's crucial to start this step before it becomes urgent.
A practical tip: ensure the account on the destination platform is fully verified and operational before initiating the transfer process from the originating exchange. Sending assets to an account whose KYC is not yet approved can cause delays or complications in receiving the funds.
Block 5: Transfer assets in an orderly manner
With the destination account active and verified, you can now start making transfers. Here are some things to keep in mind to do so securely:
Transfer funds network by network, not all at once. If you have assets on multiple blockchains—Bitcoin on the Bitcoin network, Ether on Ethereum, tokens on other networks—manage each network independently to avoid sending errors. Sending crypto assets to the wrong network address is an irreversible mistake.
Always verify the destination address before confirming. Copy and paste the address; never type it manually. Before confirming, visually compare the first and last characters of the destination address with the one in your copy history. If your destination platform offers QR codes, use them as an alternative to manual copying.
Start with a small test transaction. Verify that it arrives correctly before sending the rest. This extra step may seem redundant, but it costs very little and eliminates the risk of losing assets due to an address error.
Record each transfer in your personal history: date, amount, cryptocurrency, network used, originating address, and destination address. This information complements the history you exported from the originating exchange and is necessary for your complete tax records.
Tax considerations: what generates a taxable event and what does not
The question that generates the most doubt in a migration process is the tax one. Generally speaking, in Spain, the transfer of crypto assets between accounts controlled by the same user—from one exchange to another, or from an exchange to a personal wallet—does not in itself generate a taxable capital gain or loss. What triggers a taxable event is the sale of crypto assets for euros or their exchange for other crypto assets.
However, there are important nuances. If, during the migration process, you decide to sell assets to transfer euros and then buy them again on the destination platform, that transaction does generate taxable income. Exchanging one cryptocurrency for another before transferring also generates taxable income. The cleanest approach from a tax perspective is to transfer the same assets from one platform to another without any intermediate conversions.
To accurately calculate the tax implications of any transaction related to your crypto assets, Bit2Me TAX can process the transaction history you exported from your previous exchange along with your Bit2Me account history and generate the necessary reports for your tax return. This tool is designed to handle the complexity of the FIFO method required by Spanish regulations and to adapt to the increasing cross-country supervision introduced by the DAC8 Directive.
For complex situations—very large portfolios, operations on multiple platforms over several years, DeFi assets, or staking with accumulated returns—the recommendation is always to complement automated tools with a review by a tax advisor specializing in crypto assets.
It is vitally important to warn the investor that, although the direct transfer of crypto assets between wallets of the same ownership does not constitute a change in assets for the purposes of Personal Income Tax, any intermediate operation of sale, liquidation or exchange required by the lack of compatibility of certain tokens between the originating platform and the destination platform, will generate a taxable event that must be integrated into the savings tax base of the corresponding tax period.
Complete migration checklist
Before considering the process complete, review this checklist:
Prior verification:
- Confirmed that my current exchange is not listed in the ESMA register or the CNMV register as an authorized CASP.
- Verified that withdrawals are available through a test transaction.
- Complete transaction history exported in usable format.
Account on destination platform:
- Account created in an authorized CASP (verifiable in the ESMA or CNMV register).
- KYC process completed and account verified and operational.
- Deposit addresses generated for each crypto asset to be transferred.
Transfer of assets:
- Small amount test transaction successfully sent and received.
- Assets transferred network by network, verifying the destination address in each case.
- Each transfer is recorded in the personal history with date, amount and transaction reference.
Closure on originating platform:
- Balance on the originating platform verified as zero or residual.
- Final export of the complete history after all transfers.
- Any outstanding rewards claimed before final closure.
Tax verification:
- Full history available for all platforms used.
- Operations reviewed to identify potential taxable events generated during migration.
- Tax tool such as Bit2Me TAX configured with combined histories.
The first few days on your new platform
Once you have completed the migration, there are some actions we recommend taking in the first few days on your new platform.
Verify that the balances displayed on the platform match your expectations. Each network's block explorer—Etherscan for Ethereum, Blockchain.com for Bitcoin, and their equivalents for other networks—allows you to independently check the status of each transaction.
Configure the platform's security measures: two-factor authentication (2FA) using an authenticator app—not SMS—is the minimum recommended. If the platform offers authorized device management or access alerts, enable them.
Familiarize yourself with the withdrawal process to external wallets under calm conditions, not in an emergency. Make a small transaction to verify that you understand the entire process and that you have your self-custodial wallet addresses securely stored.
The European crypto-asset ecosystem emerging from July 2026 is more regulated and, consequently, more secure for those who operate within it. Migrating to an authorized CASP is not just a regulatory requirement; it's a decision that improves the quality of the environment in which you trade your assets.
