Italy’s securities regulator has set a firm deadline for how the EU’s Markets in Crypto Assets Regulation will apply in the country, requiring virtual asset service providers to seek authorization or exit the market by December 30, 2025. After that date, only crypto asset service providers authorized under MiCA, including firms passporting from other EU states, may continue operating in Italy.
Under Italy’s MiCA-implementing decree, VASPs that submit an authorization application by the deadline can continue operating during a transitional period that extends until June 30, 2026. The option applies solely to firms that file on time, and operations must cease once authorization is granted, denied, or the transition expires.
VASPs that do not apply must shut down Italian operations by December 30, 2025, return client assets, and inform customers of their exit plans. CONSOB also warned investors to verify whether their providers intend to comply with MiCA and to seek clarification or request fund withdrawals if not.
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