Italy’s regulator has ordered all crypto providers to apply for MiCAR authorization by Dec. 30, 2025, or exit the market. VASPs that file in time may keep operating during review, but full supervision will replace simple registration.

Italy’s securities regulator, Consob, has tightened the country’s MiCAR transition rules for crypto firms by requiring virtual asset service providers to seek authorization as crypto-asset service providers, or stop operating once the transition ends. Under Italy’s MiCAR framework, firms that were properly registered and filed an application by the relevant deadline can continue serving customers while their authorization request is reviewed, but they remain subject to the new supervised regime rather than the old light-registration model. The change matters because it marks the shift from Italy’s pre-MiCAR VASP registry to a full EU-style authorization system. MiCAR is the bloc-wide crypto rulebook, and its purpose is to impose common standards for consumer protection, market integrity, and supervisory oversight across member states; Italy’s implementing rules and Consob’s guidance set the timing and consequences for local firms, including cessation of business for those that do not apply in time. The practical effect is that Italian crypto providers now face a hard compliance gate: file for authorization and keep operating during review, or exit the market once the transition period closes.

✨ AI-generated background, compiled from web sources — not editorial content.

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