Italy’s Crypto Regulation Countdown: MiCA Compliance Deadline Approaches
Italy’s financial regulator, Consob, has issued a clear reminder to crypto operators and investors to prepare for the upcoming EU Markets in Crypto-Assets Regulation (MiCA) compliance deadline. Under MiCA’s transitional rules, Italy’s registered virtual asset service providers (VASPs) can continue operating only until Dec. 30, 2025, unless they submit an application to become fully licensed crypto-asset service providers (CASPs) in Italy or another EU member state.
Firms that apply before the deadline may operate until their authorization is either approved or rejected, but no later than June 30, 2026. Consob also emphasized that VASPs not seeking MiCA authorization must cease operations, terminate contracts, and return customer assets by Dec. 30, 2025.
Currently, VASPs in Italy only need registration with the OAM, the national agents and brokers body. CASPs, however, require full authorization from supervisory authorities and are subject to ongoing oversight, highlighting the stricter framework under MiCA.
Macroprudential Concerns on the Rise
In parallel, Italy’s Committee for Macroprudential Policies—comprising the Bank of Italy, Consob, IVASS, COVIP, and the Treasury—met in Rome to assess financial stability risks. While the country’s economic conditions were deemed broadly favorable, the committee warned of increasing vulnerabilities linked to crypto assets due to their growing interconnections with traditional financial systems and uneven global regulation.
The Ministry of Economy and Finance is also conducting a detailed review to strengthen retail investor protections, particularly against direct and indirect exposure to crypto assets, as Italy navigates the EU-wide transition under MiCA.
Why This Matters
With Dec. 30, 2025, fast approaching, Italy is signaling a clear divide between compliant, licensed CASPs and unregistered VASPs that risk being forced out of the market. Investors and operators alike must act swiftly to remain on the right side of the law.
