Italy Orders 1,200 Crypto Firms to Seek MiCAR License by Dec. 30, 2025
Italy mandates 1,200 crypto firms to secure MiCAR authorization by Dec. 30, 2025. Investors must verify providers as new EU rules reshape...
Quick overview
- Italy's Consob mandates that Virtual Asset Service Providers (VASPs) must secure authorization under the EU's MiCAR rules by December 30, 2025, or face shutdown.
- Currently, VASPs only need to register with the OAM, but MiCAR introduces stricter requirements including ongoing regulatory checks.
- Retail investors are advised to verify their crypto providers' compliance status and understand the implications for their assets during the transition.
- This regulatory change aims to enhance investor protection and transparency in the crypto market across Europe.
Italy’s Securities Regulator, Consob, has now laid down the law: VASPs in Italy better get their act together & secure authorisation under the EU’s Markets in Crypto-Assets (MiCAR) rules by Dec 30th, 2025. Failing to do so could see them shut down in Italy – the choice will be between getting the paperwork done or closing up shop.
Currently in Italy, Virtual Asset Service Providers only need to register with the OAM registry. But with MiCAR, these firms will need to obtain regulators’ permission beforehand and also endure ongoing checks & balances.
This move is part of a broader EU drive to protect investors after several disastrous incidents involving crypto exchanges and tokens.
VASPs who submit their applications by the deadline will be able to keep serving customers while regulators review their files, but this grace period will end on June 30th, 2026. Consob made it clear that it’s an emergency, & both operators & investors need to start preparing for the change.
Key Compliance Steps for Operators
Under the new rules, Virtual Asset Service Providers will have to:
- Get themselves authorised for MiCAR in Italy or another EU country by Dec 30th 2025 – it’s as simple as that.
- Keep their customers in the loop about any compliance issues.
- Close down if they decide not to get a license & hand over any crypto-assets and refund the funds to the customer.
- Stick to the rules once they get their license & be subject to ongoing checks & balances on all their trading, client services & custody.
Consob has put out a few very helpful guides to help firms navigate the changeover – including some pretty important updates in September 2024, July 2025, and a stern warning in October 2025 specifically aimed at VASPs that are still operating without a licence & listed on the OAM list.
Investor Guidance Before Year-End
Retail users are being urged to do some background checking on their crypto providers before the MiCAR shift is complete:
- Check whether their provider has applied for authorisation or is planning to withdraw from the market.
- Check if your provider is a legit one via the OAM registry or the ESMA register of authorised CASPs.
- Make sure you know what will happen to your money and crypto during the transition.
Consob has pointed out that any VASP that is operating without proper authorisation after Dec 30th, 2025, is acting illegally & investors have every right to demand the return of their assets.
This regulatory shake-up is a big step forward in aligning crypto oversight across Europe & making things more transparent for all retail investors in Italy and across the EU.
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