Consob has urged VASPs to safe CASP approval or shut down by December 30, 2025.
This comes because the deadline for transitioning to new MiCAR insurance policies approaches.
Unauthorised operators will halt their companies and return consumer property.
Italy’s monetary regulator Consob has issued an pressing name to digital property buyers and operators because the nation strikes nearer to adopting MiCAR insurance policies.
In accordance with the late yesterday press launch, Consob emphasised December 30, 2025, because the final day VASPs (Digital Asset Service Suppliers) working underneath the prevailing regime will have the ability to serve with out full approval.
Consob has warned that operators who fail to observe this transition danger a ban.
Thus, any VASP working in Italy ought to adhere to the EU’s Markets in Crypto-Property Regulation or exit {the marketplace}.
The press launch highlighted:
30 December 2025 is the final day on which Digital Asset Service Suppliers (VASPs, operators presently providing digital asset companies, resembling cryptocurrency exchanges) registered with the OAM (the Organismo Agenti e Mediatori, or Brokers and Brokers Organisation) can proceed to function.
MiCAR resets Italy’s regulatory rulebook
Italian regulators have solely wished VASPs to safe the OAM (Organismo Agenti e Mediatori) certificates to function seamlessly over time.
In the meantime, MiCAR brings more durable guidelines, with solely totally licensed Crypto-Asset Service Suppliers (CASPs) permitted to serve the European Union.
In the meantime, the authorisation process entails operational checks, consumer safety necessities, supervisory controls, and present monitoring. That’s far stricter than the earlier mannequin.
Consob careworn that VASPs will solely function in the event that they apply for CASP certification in Italy or every other European Union Member State by December 30.
Operators who submit purposes by this deadline can hold providing companies till the ultimate determination, however all entities ought to adhere to MiCAR by June 30, 2026.
What’s subsequent for buyers?
Consob has warned each operators and day-to-day cryptocurrency customers.
Buyers ought to promptly affirm whether or not their desired service supplier plans to stick to the brand new insurance policies and necessities.
Right here, they will monitor two essential issues.
In the beginning, buyers ought to examine whether or not the operator has printed its MiCAR transition plans.
Secondly, buyers ought to confirm the supplier’s regulatory standing after the deadline.
VASPs that don’t apply or fail to safe approval won’t function in Italy after December 30, and prospects can request a return of their property upon such developments.
In the meantime, Consob confirmed warning operators a number of instances throughout the transition part, highlighting updates in September final 12 months, July 2025, and the October 31 discover to firms nonetheless holding solely the OAM certificates.
Whereas some operators view MiCAR because the pathway for regulated, worldwide operations, others think about the brand new regulation as the top of the street.
In the meantime, digital property buyers ought to keep alert, examine the supplier’s regulatory standing, and act earlier than the brand new MiCAR laws lock them out or strain them with last-minute withdrawals.
