MiCA's transition closed on 1 July 2026 with 244 authorised CASPs out of 1,200+ registered firms. What the 20% conversion rate means for wind-downs and enforcement.
EUR/CHF to 0.9450 by December 2026 from 0.9155. The mechanism is the SNB's stated willingness to intervene against franc strength — a soft floor, not a hard cap.