- Italy sets December 30 deadline for crypto firms to comply with MiCA.
- VASPs must obtain CASP authorization or cease operations in Italy.
- Italy allows transitional period until June 30, 2026 for pending applications.
Italy has imposed a hard deadline for crypto firms to comply with the European Union’s Markets in Crypto-Assets Regulation. The country’s securities regulator warned that unlicensed crypto platforms must seek authorization or exit the market by December 30, 2025.
The Commissione Nazionale per le Società e la Borsa (CONSOB) issued a press release on December 4 reminding the market of the approaching deadline.
Virtual asset service providers currently registered with the Organismo Agenti e Mediatori can operate only until December 30 under the existing national framework.
After that date, only entities authorized as crypto asset service providers under MiCA will be allowed to offer services in Italy.
Italy sets hard December 30 deadline for VASPs
CONSOB stated that December 30, 2025 is the last day Virtual Asset Service Providers registered with OAM can continue operations. The current regulatory regime in Italy requires only OAM registration for VASPs.
Crypto asset service providers must obtain authorization from supervisory authorities and are subject to their supervision under the new framework.
Italy’s MiCA-implementing legislation allows VASPs that submit authorization applications by December 30 to continue operating during the assessment period.
The continuation period ends once authorization is granted or refused, and in any case no later than June 30, 2026. Firms can submit applications to become CASPs in Italy or another European Union member state.
Transitional period extends to June 2026
The June 30, 2026 date provides a clear endpoint for transitional operations. VASPs operating under this extended period must have filed applications by the December 30 deadline.
CONSOB noted this framework stems from Italy’s legislative decree implementing MiCA. The decree introduced a transitional regime for existing VASPs and set conditions for continued operation during the move to CASP authorization.
The decree uses flexibility allowed by MiCA’s transitional provisions to set national deadlines. The June 30, 2026 date appears in multiple sections of CONSOB’s communication as the absolute final date for transitional operations.
Italy outlines obligations for non-compliant firms
For VASPs that decide not to seek authorization under MiCA, CONSOB shared specific obligations. These operators must cease activities in Italy by December 30, 2025.
Non-compliant firms must terminate existing contracts and return clients’ crypto-assets and funds according to customer instructions. They must also discontinue all services provided, including custody and administration of crypto-assets.
VASPs registered in the OAM list must publish adequate information on their websites about their compliance plans. They must inform clients directly about measures they intend to adopt, either to comply with MiCA or to close existing relationships in an orderly manner.
CONSOB has provided operational guidance to interested parties on several occasions. The regulator held dedicated discussions and issued various general communications, including preliminary instructions in September 2024 and a notice in July 2025.
The regulator issued a specific reminder on October 31, 2025 to VASPs registered in the OAM register that are not yet authorized under MiCA.
Regulator warns investors about unauthorized platforms
CONSOB’s press release includes a section titled “warnings for investors.” The regulator points out that VASPs currently operating may no longer be authorized after December 30, 2025.
Investors should verify they have received necessary information from their VASP about compliance plans. If not, they should ask for clarification on the operator’s plans to comply with new regulations.
Investors should confirm the operator is authorized to provide services after December 30 by consulting the OAM list of VASPs or the ESMA register of authorized CASPs. If the operator is not authorized, it cannot continue providing crypto-asset services to the public.
