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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 as they transition to the EU's MiCA regulation. The move is seen as a bold step to tighten the legal framework and protect 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 as they transition to the EU's MiCA regulation. The move is seen as a bold step to tighten the legal framework and protect 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 (Commissione Nazionale per le Società e la Borsa) made clear that December 30, 2025 is the hard 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 — formally 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 window 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
  • Publish clear disclosures on their website and notify customers directly about their closure plans or transition arrangements.

According to CONSOB, these requirements are mandatory to ensure an orderly market exit that does not harm users.

Investor Warnings

In its "investor alert" 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 they have not received any notification.
  • Proactively request withdrawal of funds or assets if the firm has not provided a clear plan.

Broader EU Context: MiCA Transition Period Tightening Across the Bloc

On the same day, the European Securities and Markets Authority (ESMA) also issued a statement on the closing of MiCA's transition periods across the EU. ESMA stressed that provisional national-level licenses do not constitute MiCA recognition, and that firms should prepare an "orderly wind-down plan" if they are unable to meet MiCA standards in time.

Italy is now among the EU member states with the clearest timeline for its MiCA transition, signaling the country's firm commitment to establishing a transparent regulatory environment and reducing risk for investors.