Italy Puts Crypto on the Clock With Hard MiCA Deadlines

Italy’s market watchdog Consob has set firm MiCA deadlines that decide which crypto platforms can keep serving Italian users. Under the new regime, providers must apply for EU-compliant authorization by December 30, 2025 or start winding down and returning customer assets. Italy Sets Firm MiCA Deadlines as Consob Moves Crypto Firms Into New EU Regime Italy has finalized its transition to the European Union’s Markets in Crypto-Assets framework, setting hard deadlines for all crypto service providers operating in the country. The updated timeline appears in Italy’s MiCA implementation decree and the joint notice issued by Consob and the Bank of Italy, reflecting the rules now in effect across the sector. Under the regime, all Virtual Asset Service Providers currently listed in Italy’s OAM register must become fully authorized Crypto-Asset Service Providers. They can keep operating only if they file a MiCA authorization application by December 30, 2025. The deadline applies to both domestic and foreign firms serving Italian users. At the same time, Italy introduced a grace period that runs until June 30, 2026, allowing companies that submit their applications on time to continue offering services while regulators review their filings. Consob will oversee conduct and market-integrity requirements under MiCA, while the Bank of Italy will supervise prudential and anti-money-laundering obligations. However, providers that fail to apply by the December deadline must begin winding down activities in Italy, including closing user accounts and returning customer assets. The requirement stems directly from Italy’s MiCA alignment process and replaces the prior national VASP framework that operated under the OAM register. The updated schedule follows Italy’s earlier MiCA notice published on December 30, 2024, and the government’s extension measures adopted in July 2025 to finalize the transition. Together, they set the operational roadmap that crypto firms must now follow as the EU enters its first full year under MiCA. Consob Urges Investors to Check Whether Their Provider Will Stay in Italy Consob has paired the new deadlines with a fresh warning to Italian crypto users. The regulator urges investors to check whether the platform they use is registered in the Italian OAM list or appears in the future ESMA register of authorized crypto-asset service providers. Officials also tell customers to confirm if their current provider plans to apply for a MiCA license or instead exit the Italian market. If a platform does not intend to seek authorization, investors have the right to request the return of their funds and crypto-assets and to receive clear information on how the service will shut down. Consob notes that only part of the tokens offered on many platforms will fall under MiCA’s rules. Assets that remain outside the regulation may continue to carry limited or patchy disclosures, which can make it harder for retail users to assess their risks. The authority says it will keep coordinating with the Bank of Italy and other EU supervisors as the ESMA register of licensed CASPs comes online. That coordination is meant to ensure that cross-border firms serving Italian customers apply the same conduct, transparency and safeguarding standards as domestic operators.