Crypto link building in Western Europe after MiCA

Crypto is a niche where link building has always been sensitive. In 2026 it gained a clear legal boundary: the MiCA transitional period ended, and an unlicensed service in the EU is no longer a grey zone.

What exactly changed

ESMA published a statement on 17 April 2026 setting out its expectations ahead of the end of the transitional period on 1 July 2026. The main points:

• Crypto-asset service providers (CASPs) without a MiCA licence must stop serving EU clients after the deadline
• This applies whether or not a member state has implemented MiCA nationally
• Non-EU firms may not solicit or serve EU clients, except under the reverse solicitation exception; this also applies in B2B
• MiCA protection applies only to the specific authorised CASP, not to other group companies sharing the same brand

What it means for links and content

If your content or links send EU readers to a provider without a licence, you may be promoting a service that cannot be offered. That is a risk for the reader and for you.

Example: two companies sit under one brand, one authorised in the EU and the other registered elsewhere. By ESMA’s statement, MiCA protects only clients of the authorised entity. Content that simply says “exchange X is covered by MiCA” can therefore mislead if the link leads to the other entity’s page.

What works

• A licence-check guide: teach readers to search the ESMA register and the national supervisor’s website
• A clear note of which legal entity provides the service
• Educational content (how custody, deposits and taxes work) without a product-first sales message
• Local-language media coverage of regulatory changes
• Labelled sponsored placements

What is risky

• Linking to exchanges without checking their licence
• Promises such as “guaranteed returns” or risk-free profit
• Targeting EU readers with content for a service not permitted in the EU
• Anonymous link networks and expired domains

A five-step check

1. Find which legal entity provides the service
2. Check its CASP status in the ESMA register and on the national supervisor’s page
3. Make sure the service is permitted in the country your readers are in
4. Mark paid collaboration clearly (rel="sponsored")
5. Update the page when the licence status changes, and document the change

This is not legal advice. MiCA rules and national requirements depend on the country and the type of service; always ask a lawyer.

What to explain to the reader

• What MiCA is and why it matters to them
• How to check whether a provider is licensed
• What it means that protection applies only to a specific entity
• Where to turn if a problem arises

Content like this sells nothing, but it is exactly what readers look for and what media quote.

A practical note for an agency

With a crypto client, first ask which legal entity provides the service and in which country it holds its MiCA licence. If there is no answer, there is no point starting a link campaign yet. The licence check is the first step of a campaign, not the last.

Add a clause to the contract that the client will notify any change in licence status, and agree how links are reviewed in that case.

What is reverse solicitation?

The reverse solicitation exception means the client approaches the firm on their own initiative. Active marketing towards the EU, including links and promotional content, is not reverse solicitation. By ESMA’s expectations this also applies in B2B. Content that sends EU readers to an unlicensed service therefore cannot be defended by pointing to that exception.

A page template for mentioning a service

• The full legal entity name and country
• Licence status and the date checked, with a reference to the register
• A risk warning visible on the page, not only in the footer
• A note when the collaboration is paid

Sources

• ESMA (European Securities and Markets Authority)
• Harneys: ESMA’s 17 April 2026 statement on the end of the transitional period
• Google Search Central: spam policies