Spain's national securities regulator, the Comisión Nacional del Mercado de Valores (CNMV), has released detailed guidelines and a Q&A document outlining the implementation of the European Union's Markets in Crypto-Assets Regulation (MiCA). This move clarifies expectations for crypto platforms regarding authorizations, conduct, and the transitional period, pushing businesses towards a decisive "comply or quit" stance as the new regulatory framework takes effect across the EU.