Italy Sets Strict MiCA Compliance Deadline for Crypto Platforms

Italy’s market regulator has set strict MiCA (Markets in Crypto-Assets Regulation) deadlines, forcing virtual asset service providers to seek authorization or exit by December 30, and urging investors to check providers’ compliance plans.

Author: Christina Comben

Source: Cointelegraph

Translated by: Chang

Italy’s securities regulator has set a clear timeline for the application of the EU’s MiCA regulation in the country, warning unlicensed crypto platforms that they must apply for authorization or exit the market before the deadline.

This move directly impacts virtual asset service providers (VASPs) operating under Italy’s current system and their retail investor users.

In a press release on December 4, 2025, the Italian National Commission for Companies and the Stock Exchange (CONSOB) reminded the market that December 30, 2025, is the last day for VASPs registered with the Agents and Brokers Organization (OAM) to operate under the existing national framework.

After this date, only crypto-asset service providers authorized under MiCA—including companies entering Italy from other EU member states via passporting—may provide crypto-asset services in the country.

According to Italian legislation implementing MiCA, VASPs that submit an application by December 30 and intend to be approved as crypto-asset service providers in Italy or other EU member states may continue to operate during the review period, but in any case, not beyond June 30, 2026.

This transitional operating period is only available to operators who submit applications before the deadline, and it ends upon approval, rejection, or the June 30, 2026, upper limit.

Obligations for Non-applying Entities

For VASPs that decide not to seek authorization under MiCA, CONSOB has outlined specific obligations. These operators must cease activities in Italy by December 30, 2025, terminate existing contracts, and return clients’ crypto assets and funds according to client instructions.

CONSOB also stated that VASPs registered on the OAM list must post sufficient information on their websites and directly inform customers of the measures taken, whether to comply with MiCA or to ensure an orderly termination of existing relationships.

This framework originates from Italy’s legislative decree implementing MiCA, which introduces a transitional regime for existing VASPs and sets conditions for their continued operation while migrating to the new authorization system. The decree leverages MiCA’s transitional provisions to set a national deadline, including the June 30, 2026, date referenced in CONSOB’s notice.

Warnings to Retail Investors

CONSOB’s press release includes a separate section called “Warnings to Investors.”

The regulator noted that VASPs currently operating in Italy may no longer be authorized after December 30, 2025, and emphasized that investors should check whether their providers have given them necessary information about their MiCA compliance plans.

If no such information has been received, CONSOB recommends that investors seek clarification from the provider or request the return of their funds.

EU-level Context Under MiCA

CONSOB’s notice is part of the broader EU framework concerning MiCA’s application and transitional measures. On the same day, the European Securities and Markets Authority issued a statement on the end of MiCA’s transitional period, emphasizing that member states may temporarily extend existing licenses for current providers, but these periods are limited and will expire.

The Authority’s statement explained that companies operating under national transitional regimes are not automatically granted MiCA authorization and stressed the need for an “orderly wind-down plan” if providers fail to obtain authorization before the transitional period ends.

Italy’s hard deadlines for application and ongoing operation show how member states use the discretion MiCA grants for transitional regimes. Italy’s transitional period now has a clear end point—continued business in the market will require MiCA authorization.