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12/05/2025

🇮🇹 Italy Sets Strict Deadline for Crypto Platforms Under MiCA Framework

Italy has officially set mandatory deadlines for digital asset platforms and services transitioning to the EU's MiCA regulation. The move is seen as a firm step toward tightening the legal framework and protecting investors as Europe's crypto market enters a critical regulatory phase. CONSOB: VASPs Must Obtain a License or Exit the Market by December 30 In its latest announcement, Italy's securities regulator CONSOB emphasized tha

🇮🇹 Italy Sets Strict Deadline for Crypto Platforms Under MiCA Framework

Italy has officially set mandatory deadlines for digital asset platforms and services transitioning to the EU's Markets in Crypto-Assets (MiCA) regulation. The move is seen as a firm step toward tightening the legal framework and protecting investors as Europe's crypto market enters a critical regulatory phase.

CONSOB: VASPs Must Obtain a License or Exit the Market by December 30

In its latest announcement, Italy's securities regulator CONSOB emphasized that December 30, 2025 is the final deadline for virtual asset service providers (VASPs) registered with OAM to continue operating under the current regulatory framework.

After that date, only firms licensed under MiCA — known as crypto-asset service providers (CASPs) — will be permitted to offer services in Italy. This includes companies passporting their license from other EU member states.

CONSOB noted that VASPs that submit a MiCA license application on time may continue operating on a provisional basis until June 30, 2026, while their application is under review. However, this transitional period cannot be extended and will end as soon as the firm is licensed, rejected, or when June 30, 2026 arrives — whichever comes first.

Obligations for Platforms That Do Not Apply for a License

VASPs that choose not to pursue MiCA authorization will be required to:

  • Cease all operations in Italy before December 30
  • Terminate existing contracts with customers
  • Return all digital assets and fiat funds upon user request
  • Clearly disclose on their website and notify customers directly about their closure plans or transition measures.

According to CONSOB, these are mandatory requirements to ensure an orderly market exit and prevent harm to users.

Guidance for Investors

In its investor warning section, CONSOB cautioned that many platforms currently operating in Italy may no longer be authorized to offer services after December 30.

Accordingly, investors are advised to:

  • Check whether the platform they use has publicly disclosed a MiCA compliance plan.
  • Contact the platform directly to request clarification if no announcement has been received.
  • Proactively request withdrawal of funds or assets if the firm has not provided a clear plan.

EU-Wide Context: MiCA Transition Window Is Closing

On the same day, the European Securities and Markets Authority (ESMA) also issued a statement on the expiration of MiCA transitional periods across the EU. ESMA stressed that temporary national licenses do not equate to MiCA authorization, and that firms need to prepare an "orderly wind-down plan" if they cannot achieve MiCA compliance in time.

Italy is now among the EU member states with the clearest timelines for the MiCA transition, reflecting the country's commitment to building a transparent regulatory environment and reducing investor risk.