July 1, 2026 is the cliff for transitional EU VASPs, and B2C2 now has the paper before a lot of smaller OTC shops do. That matters less for retail access than for bank/fund flow: SBI-owned B2C2 can face institutions that won’t touch offshore venues, keep block liquidity off public CEX books, and route more EUR crypto flow through Luxembourg instead of London, Malta, or a Binance/Bybit workaround.

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